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Beth Welsh, a director at Peapack Gladstone Financial Corp (NASDAQ:PGC), recently acquired 1,000 shares of the company’s common stock. The purchase, made on March 31, amounted to a total value of $28,537, with each share priced at approximately $28.54. The transaction comes as the $502 million market cap company trades at 0.83 times book value, suggesting potential undervaluation according to InvestingPro Fair Value metrics. Following this transaction, Welsh’s direct ownership in the company increased to 15,497 shares.
Additionally, Welsh holds 1,675 restricted stock units, each representing a contingent right to receive one share of common stock. These units are set to vest and settle in stock on the first anniversary of their grant date.
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