Peapack-Gladstone Financial (NASDAQ:PGC) Shares Gap Up – Time to Buy?

Peapack-Gladstone Financial Co. (NASDAQ:PGC)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $29.18, but opened at $29.78. Peapack-Gladstone Financial shares last traded at $29.64, with a volume of 13,118 shares trading hands.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their target price on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Peapack-Gladstone Financial Price Performance

The firm has a market cap of $518.20 million, a PE ratio of 15.93 and a beta of 1.00. The stock has a 50 day simple moving average of $31.78 and a two-hundred day simple moving average of $31.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. Sell-side analysts expect that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 10,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total transaction of $287,600.00. Following the transaction, the executive vice president now directly owns 39,155 shares of the company’s stock, valued at $1,126,097.80. This trade represents a 20.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory Martin Smith sold 17,633 shares of Peapack-Gladstone Financial stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $31.95, for a total transaction of $563,374.35. Following the completion of the sale, the executive vice president now owns 297 shares in the company, valued at approximately $9,489.15. This trade represents a 98.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,633 shares of company stock valued at $1,573,124. Corporate insiders own 7.63% of the company’s stock.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Several institutional investors have recently bought and sold shares of PGC. Victory Capital Management Inc. purchased a new position in shares of Peapack-Gladstone Financial in the third quarter valued at approximately $959,000. Algert Global LLC lifted its holdings in Peapack-Gladstone Financial by 165.8% in the 3rd quarter. Algert Global LLC now owns 24,558 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 15,320 shares in the last quarter. FMR LLC boosted its stake in Peapack-Gladstone Financial by 27.1% during the 3rd quarter. FMR LLC now owns 28,358 shares of the financial services provider’s stock worth $777,000 after purchasing an additional 6,054 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Peapack-Gladstone Financial by 108.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,195 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 13,623 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Peapack-Gladstone Financial during the third quarter worth $211,000. 72.75% of the stock is currently owned by institutional investors and hedge funds.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.