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Douglas L. Kennedy, the President and CEO of Peapack-Gladstone Financial Corp (NASDAQ:PGC), recently sold 5,000 shares of the company’s common stock. The sale, which took place on March 28, 2025, was executed at a price of $28.5795 per share, totaling approximately $142,897. The transaction comes as InvestingPro analysis indicates PGC is currently trading below its Fair Value, with the company maintaining a P/E ratio of 15.2 and a market capitalization of $496 million.
Following the transaction, Kennedy holds 35,408.749 shares directly. Additionally, he maintains indirect ownership of shares through various plans, including a rabbi trust, 401(k), and an employee stock purchase plan, reflecting his continued investment in the company. The bank has demonstrated strong financial stability, maintaining dividend payments for 28 consecutive years, with analysts projecting continued profitability for the current fiscal year.
This sale was conducted under a Rule 10b-5 trading plan, which allows executives to sell stocks at predetermined times to avoid any allegations of insider trading. For deeper insights into PGC’s valuation and additional financial metrics, check out InvestingPro, which offers exclusive tips and comprehensive analysis tools.
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