Recently, several large investors altered their positions in Peapack-Gladstone Financial. Zurcher Kantonalbank increased its stake by 68.4%, now holding 3,324 shares worth $75,000. Denali Advisors acquired a new position valued at $204,000 in the first quarter, while BNP Paribas boosted its stake by 90.4%, owning 8,399 shares now valued at $204,000. Price T Rowe Associates increased its holdings by 5.8%, owning 11,423 shares valued at $278,000 after acquiring 628 more shares. Quest Partners raised its stake by 150.0%, with 15,745 shares worth $357,000. Institutional investors own 72.75% of the company’s stock.
Insider Activity at Peapack-Gladstone Financial
On September 5th, EVP John P. Babcock sold 10,000 shares for $26.89 each, totaling $268,900. Post-sale, he owns 52,155 shares valued at about $1.4 million. His ownership decreased by 0.00%. This transaction was filed with the SEC. Company insiders hold 7.63% of the stock.
Peapack-Gladstone Financial Stock Up 4.3%
Shares of Peapack-Gladstone Financial opened at $28.63. The company has a debt-to-equity ratio of 0.23 and a market cap of $506.18 million. It reported $0.42 earnings per share in its latest quarterly results, matching estimates, and had revenue of $100.79 million—much higher than expected. Analysts predict an EPS of 1.75 for the fiscal year.
Analyst Ratings Changes
Keefe, Bruyette & Woods reissued an “outperform” rating for Peapack-Gladstone Financial, raising the target price from $28 to $32.
About Peapack-Gladstone Financial
Peapack-Gladstone Financial Corporation serves as a bank holding company, providing private banking and wealth management services through Peapack-Gladstone Bank. It offers various banking products including checking accounts, savings accounts, and retirement accounts.
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