Insider Bets Paying Off At PGC As New 52-Week High Reached

In trading on Wednesday, shares of Peapack-Gladstone Financial Corp. (PGC) touched a new 52-week high of $24.29/share. That's a 50.22% rise, or $8.12 per share from the 52-week low of $16.17 set back on 02/17/2016. That means at today's intraday high, any investor who purchased PGC stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, PGC has seen 4 different instances of insiders buying over the trailing six month period.

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Purchased Insider Title Shares Price/Share Value
06/08/2016 Jeffrey J. Carfora SEVP & Chief Financial Officer 1,000 $19.37 $19,374.16
06/13/2016 Eric H. Waser EVP, Head of Comm Banking 1,000 $18.95 $18,950.00
06/15/2016 Eric H. Waser EVP, Head of Comm Banking 1,000 $18.95 $18,950.00
08/01/2016 John P. Babcock SEVP & Pres of Priv Wealth Mgt 1,000 $20.04 $20,043.70
09/01/2016 Eric H. Waser EVP, Head of Comm Banking 1,900 $19.88 $37,770.30
06/10/2016 Beth Welsh Director 600 $19.20 $11,519.94

The chart below shows where PGC has traded over the past year, with the 50-day and 200-day moving averages included.

Peapack-Gladstone Financial Corp. Moving Averages Chart

In afternoon trading on Wednesday, PGC shares are changing hands at $24.29/share, right at the new 52-week high.

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