Price Action Report: Could Peapack-Gladstone Financial Corp Lose its Strength? The Stock Reaches 52-Week High

Price Action Report: Could Peapack Gladstone Financial Corp Lose its Strength? The Stock Reaches 52 Week High

The stock of Peapack-Gladstone Financial Corp (NASDAQ:PGC) hit a new 52-week high and has $67.00 target or 150.00% above today’s $26.80 share price. The 5 months bullish chart indicates low risk for the $460.42 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $67.00 price target is reached, the company will be worth $690.63M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 6.60% or $1.66 during the last trading session, hitting $26.8. About 90,911 shares traded hands or 253.86% up from the average. Peapack-Gladstone Financial Corp (NASDAQ:PGC) has risen 49.64% since April 11, 2016 and is uptrending. It has outperformed by 43.50% the S&P500.

According to Zacks Investment Research, “The Peapack-Gladstone Financial Corporation is a bank holding company for Peapack-Gladstone Bank. The Bank is primarily dedicated to providing quality, personalized financial, trust and investment services to individuals and small businesses.”

Insitutional Activity: The institutional sentiment decreased to 1.44 in Q2 2016. Its down 1.11, from 2.55 in 2016Q1. The ratio dived, as 8 funds sold all Peapack-Gladstone Financial Corp shares owned while 19 reduced positions. 13 funds bought stakes while 26 increased positions. They now own 10.21 million shares or 1.34% more from 10.07 million shares in 2016Q1.
California Pub Employees Retirement Sys has 0% invested in the company for 32,565 shares. Northern Corp reported 182,991 shares or 0% of all its holdings. Banc Funds Limited Company has 1.35 million shares for 1.46% of their US portfolio. D E Shaw accumulated 0% or 63,370 shares. Pl Capital Advsr Limited Co accumulated 0.23% or 37,232 shares. Rhumbline Advisers owns 17,806 shares or 0% of their US portfolio. First Trust Lp accumulated 0% or 23,451 shares. Rmb Capital Management Lc accumulated 0.1% or 103,868 shares. Patriot Financial Prtn Grp Inc Limited Partnership last reported 2.84% of its portfolio in the stock. Bridgeway Cap Mngmt has 0.01% invested in the company for 51,639 shares. The Massachusetts-based Geode Lc has invested 0% in Peapack-Gladstone Financial Corp (NASDAQ:PGC). Strs Ohio accumulated 34,000 shares or 0% of the stock. Fuller Thaler Asset Mgmt last reported 700 shares in the company. Springbok Capital Management Limited Liability Corporation holds 1,900 shares or 0% of its portfolio. Federated Invsts Pa has 126 shares for 0% of their US portfolio.

Insider Transactions: Since June 8, 2016, the stock had 6 insider purchases, and 0 insider sales for $126,608 net activity. Waser Eric H. bought $18,950 worth of stock. $19,374 worth of Peapack-Gladstone Financial Corp (NASDAQ:PGC) was bought by CARFORA JEFFREY J on Wednesday, June 8. On Monday, August 1 the insider BABCOCK JOHN P bought $20,044. 600 shares were bought by WELSH BETH, worth $11,520 on Friday, June 10.

PGC Company Profile

Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Bank provides private banking services to businesses, non-profits and clients through its private banking locations in Bedminster, Morristown, Princeton and Teaneck, New Jersey; wealth management division, and branch network in Somerset, Morris, Hunterdon, Middlesex and Union counties. The Firm operates through two divisions: Banking and Private Wealth Management Division. The Firm owns approximately 10 branches and leases over 10 branches.

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