Peapack-Gladstone Financial (NASDAQ:PGC) Share Price Crosses Below Two Hundred Day Moving Average of $25.60

Peapack-Gladstone Financial Co. (NASDAQ:PGC) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.60 and traded as low as $23.98. Peapack-Gladstone Financial shares last traded at $24.50, with a volume of 103,685 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PGC. Keefe, Bruyette & Woods decreased their target price on Peapack-Gladstone Financial from $33.50 to $30.50 and set an “outperform” rating for the company in a research report on Friday, April 5th. TheStreet lowered Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a research report on Friday, February 23rd. Finally, Piper Sandler lowered Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a research report on Wednesday.

Peapack-Gladstone Financial Stock Down 8.6 %

The firm has a market cap of $406.12 million, a price-to-earnings ratio of 8.44 and a beta of 0.99. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $23.68 and a 200-day moving average of $25.58.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). Peapack-Gladstone Financial had a net margin of 12.94% and a return on equity of 9.03%. The company had revenue of $54.27 million for the quarter, compared to analyst estimates of $54.91 million. As a group, sell-side analysts forecast that Peapack-Gladstone Financial Co. will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP Gregory Martin Smith sold 4,500 shares of Peapack-Gladstone Financial stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $30.02, for a total transaction of $135,090.00. Following the sale, the executive vice president now owns 15,703 shares of the company’s stock, valued at approximately $471,404.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.18% of the stock is owned by company insiders.

Institutional Trading of Peapack-Gladstone Financial

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of Peapack-Gladstone Financial by 133.8% in the 3rd quarter. SG Americas Securities LLC now owns 8,790 shares of the financial services provider’s stock worth $225,000 after buying an additional 5,031 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Peapack-Gladstone Financial by 4.1% in the 3rd quarter. Brown Advisory Inc. now owns 531,705 shares of the financial services provider’s stock worth $13,638,000 after buying an additional 20,747 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Peapack-Gladstone Financial in the 3rd quarter worth $1,676,000. Quantbot Technologies LP bought a new stake in shares of Peapack-Gladstone Financial in the 3rd quarter worth $25,000. Finally, Swiss National Bank raised its stake in shares of Peapack-Gladstone Financial by 2.6% in the 3rd quarter. Swiss National Bank now owns 35,700 shares of the financial services provider’s stock worth $916,000 after buying an additional 900 shares in the last quarter. 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.