Carmen M. Bowser Acquires 1,000 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Rating) Director Carmen M. Bowser purchased 1,000 shares of Peapack-Gladstone Financial stock in a transaction dated Friday, March 24th. The stock was purchased at an average price of $28.46 per share, with a total value of $28,460.00. Following the completion of the purchase, the director now directly owns 3,168 shares of the company’s stock, valued at $90,161.28. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Peapack-Gladstone Financial Stock Performance

Shares of PGC stock traded up $1.01 during trading hours on Friday, reaching $30.20. The company had a trading volume of 40,827 shares, compared to its average volume of 62,138. The business has a fifty-day moving average price of $36.07 and a 200-day moving average price of $36.73. Peapack-Gladstone Financial Co. has a one year low of $27.71 and a one year high of $42.19. The firm has a market cap of $538.47 million, a PE ratio of 7.30 and a beta of 1.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97, and a current ratio of 0.98.

Peapack-Gladstone Financial (NASDAQ:PGC – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $64.85 million for the quarter, compared to analyst estimates of $63.32 million. Peapack-Gladstone Financial had a net margin of 26.68% and a return on equity of 14.19%. Sell-side analysts predict that Peapack-Gladstone Financial Co. 4.37 earnings per share for the current financial year will achieve.

Peapack-Gladstone Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 23rd. Investors of record on Thursday, February 9th were issued a $0.05 dividend. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, February 8th. Peapack-Gladstone Financial’s payout ratio is 5.00%.

Hedge funds weigh in on Peapack-Gladstone Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of Peapack-Gladstone Financial by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,312,005 shares of the financial services provider’s stock valued at $48,833,000 after buying an additional 29,207 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Peapack-Gladstone Financial by 4.5% during the third quarter. Vanguard Group Inc. now owns 856,769 shares of the financial services provider’s stock valued at $28,830,000 after buying an additional 37,005 shares in the last quarter. Boston Partners lifted its holdings in Peapack-Gladstone Financial by 359.7% during the fourth quarter. Boston Partners now owns 711,148 shares of the financial services provider’s stock valued at $26,433,000 after buying an additional 556,465 shares in the last quarter. State Street Corp lifted its holdings in Peapack-Gladstone Financial by 2.3% during the first quarter. State Street Corp now owns 456,484 shares of the financial services provider’s stock valued at $15,863,000 after buying an additional 10,273 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Peapack-Gladstone Financial by 0.8% during the fourth quarter. JPMorgan Chase & Co. now owns 359,724 shares of the financial services provider’s stock valued at $13,390,000 after purchasing an additional 2,938 shares in the last quarter. Hedge funds and other institutional investors own 72.99% of the company’s shares.

Wall Street analyst weighs in

Separately, StockNews.com started coverage on shares of Peapack-Gladstone Financial in a research note on Thursday, March 16th. They issued a “buy” rating for the company.

Peapack-Gladstone Financial Company Profile (Get Rating)

Peapack-Gladstone Financial Corp. is a bank holding company engaged in providing private banking services to businesses, non-profit organizations and consumers. It operates through the Banking and Peapack Private segments. The banking segment is involved in the delivery of loan and deposit products to customers.