Peapack-Gladstone Financial Corporation (PGC) Draws Bullish Attention After Forming Bullish Wedge Up Pattern

February 15, 2018 - By Dolores Ford

Investors sentiment decreased to 2.33 in Q3 2017. Its down 0.97, from 3.3 in 2017Q2. It turned negative, as 5 investors sold Peapack-Gladstone Financial Corporation shares while 22 reduced holdings. 19 funds opened positions while 44 raised stakes. 12.41 million shares or 47.80% less from 23.77 million shares in 2017Q2 were reported.
5,466 were accumulated by Brandywine Inv Mgmt Ltd Limited Liability Company. Systematic Finance Lp stated it has 23,455 shares or 0.02% of all its holdings. Prudential Fincl has invested 0% of its portfolio in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Moreover, Northern Tru has 0% invested in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Bridgeway Cap Management invested 0.01% in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Nationwide Fund Advisors reported 51,273 shares stake. Bessemer Gp stated it has 0% in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Ajo Ltd Partnership, a Pennsylvania-based fund reported 105,445 shares. Price T Rowe Md accumulated 19,841 shares. Morgan Stanley accumulated 78,932 shares. Schwab Charles Investment Management holds 0% or 96,260 shares. Moreover, Tiaa Cref Inv Management Ltd Liability Company has 0% invested in Peapack-Gladstone Financial Corporation (NASDAQ:PGC) for 69,304 shares. Barclays Public Limited Company reported 396 shares or 0% of all its holdings. Credit Suisse Ag reported 21,570 shares. Moreover, Strs Ohio has 0% invested in Peapack-Gladstone Financial Corporation (NASDAQ:PGC).

Since December 12, 2017, it had 0 insider buys, and 3 selling transactions for $35,175 activity.

The stock of Peapack-Gladstone Financial Corporation (PGC) formed an up wedge with $36.35 target or 4.00 % above today’s $34.95 share price. The 7 months wedge indicates low risk for the $650.76M company. If the $36.35 price target is reached, the company will be worth $26.03 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.52% or $0.18 during the last trading session, reaching $34.95. About 19,866 shares traded. Peapack-Gladstone Financial Corporation (NASDAQ:PGC) has risen 63.29% since February 15, 2017 and is uptrending. It has outperformed by 46.59% the S&P500.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Ratings Coverage

Among 4 analysts covering Peapack-Gladstone Financial (NASDAQ:PGC), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Peapack-Gladstone Financial had 8 analyst reports since November 7, 2016 according to SRatingsIntel. Keefe Bruyette & Woods maintained the shares of PGC in report on Thursday, December 21 with “Buy” rating. Keefe Bruyette & Woods maintained it with “Buy” rating and $44.5 target in Monday, February 5 report. On Monday, November 27 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”. The firm has “Buy” rating given on Thursday, February 1 by Hovde Group. As per Monday, December 19, the company rating was downgraded by Sandler O’Neill. The company was initiated on Monday, July 17 by Keefe Bruyette & Woods. The firm has “Buy” rating by Sandler O’Neill given on Monday, November 7.

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