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Gregory Martin Smith, SEVP, President Comml Banking at Peapack Gladstone Financial (NASDAQ: PGC), a $517 million market cap regional bank, sold 3,200 shares of common stock on September 15, 2025, at a price of $29.15, totaling $93,280. According to InvestingPro analysis, the stock currently trades below its Fair Value, with analysts maintaining a bullish outlook.
Following the transaction, Smith directly owns 5,426.8051 shares of Peapack Gladstone Financial, which includes shares received through dividend reinvestment since the last filing. The company has maintained dividend payments for 28 consecutive years, with a current yield of 0.69%. InvestingPro subscribers can access additional insights about PGC’s dividend sustainability and growth potential.
Smith also holds derivative securities including 4,922 Restricted Stock Units, 7,822 Restricted Stock Units, 19,078 Restricted Stock Units, 3,602 Phantom Stock, 754 Phantom Stock and 8,103 Phantom Stock. The company maintains a "Fair" overall financial health score, trading at 0.82 times book value.
In other recent news, Peapack-Gladstone Financial reported second-quarter earnings that did not meet expectations. The shortfall in earnings was largely due to increased expenses from the company’s expansion efforts in the New York City metropolitan area and higher provision expenses. Raymond James has maintained its Strong Buy rating for Peapack-Gladstone Financial, with a price target of $39.00, despite these challenges. The firm acknowledged issues such as credit deterioration, increased expenses from additional investments, and weaker net interest income due to lower deposit balances. In contrast, Keefe, Bruyette & Woods adjusted its price target for the company to $35.00, down from $38.00, but kept an Outperform rating. This adjustment followed a notable drop in the company’s stock price after the earnings announcement. These developments highlight the mixed reactions from analysts regarding Peapack-Gladstone Financial’s recent performance.
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