Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director Buys $179,627.04 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director F Duffield Meyercord bought 6,316 shares of the business’s stock in a transaction on Monday, March 31st. The shares were acquired at an average price of $28.44 per share, with a total value of $179,627.04. Following the completion of the purchase, the director now directly owns 140,372 shares of the company’s stock, valued at approximately $3,992,179.68. The trade was a 4.71 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Peapack-Gladstone Financial Price Performance

Peapack-Gladstone Financial stock opened at $26.29 on Friday. The stock has a fifty day moving average of $31.31 and a 200-day moving average of $31.88. The stock has a market capitalization of $462.60 million, a P/E ratio of 14.21 and a beta of 0.82. 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 Co. has a 52 week low of $20.30 and a 52 week high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results 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%. On average, sell-side analysts expect that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGC. Synergy Asset Management LLC grew its stake in shares of Peapack-Gladstone Financial by 7.9% during the fourth quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock worth $11,199,000 after buying an additional 25,687 shares during the last quarter. JPMorgan Chase & Co. grew its position in Peapack-Gladstone Financial by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider’s stock worth $4,043,000 after acquiring an additional 8,393 shares during the last quarter. State Street Corp increased its holdings in Peapack-Gladstone Financial by 2.4% in the 3rd quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock worth $14,369,000 after purchasing an additional 12,332 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Peapack-Gladstone Financial in the fourth quarter valued at about $3,590,000. Finally, Proficio Capital Partners LLC bought a new position in Peapack-Gladstone Financial in the fourth quarter valued at about $532,000. Institutional investors own 72.75% of the company’s stock.

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.