In this article, I will feature one bank that has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
- The stock is purchased by three or more insiders within one month.
- The stock is sold by no insiders in the month of intensive purchasing.
- At least two purchasers increased their holdings by more than 10%.
Peapack-Gladstone Financial Corporation (NASDAQ:PGC) operates as the bank holding company for Peapack-Gladstone Bank that provides financial, trust, and investment services to individuals and small businesses in New Jersey.
Insider buying during the last 30 days
Here is a table of Peapack-Gladstone Financial's insider-trading activity during the last 30 days by insider.
|Name||Title||Trade Date||Shares Purchased||Public Offering||Current Ownership||Increase In Shares|
|Beth Welsh||Director||Dec 12||168||Yes||788 shares||+27.1%|
|Philip Smith||Director||Dec 12||5,322||Yes||44,857 shares||+13.5%|
|John Mulcahy||Director||Dec 12||2,000||Yes||22,075 shares||+10.0%|
|Duffield Meyercord||Director||Dec 12||8,225||Yes||38,457 shares||+27.2%|
|James Lamb||Director||Dec 12||1,470||Yes||21,110 shares||+7.5%|
|John Kissel||Director||Dec 12||2,350||Yes||43,554 shares||+5.7%|
|Frank Kissel||Chairman||Dec 12||2,350||Yes||130,567 shares||+1.8%|
|Edward Gramigna||Director||Dec 12||176||Yes||826 shares||+27.1%|
|Anthony Consi||Director||Dec 12||16,877||Yes||78,904 shares||+27.2%|
|Vincent Spero||EVP||Dec 12||2,379||Yes||41,617 shares||+6.1%|
|Douglas Kennedy||CEO||Dec 12||9,459||Yes||115,259 shares||+8.9%|
|Finn Caspersen||SEVP||Dec 12||6,205||Yes||67,573 shares||+10.1%|
|Jeffrey Carfora||CFO||Dec 12||9,669||Yes||74,793 shares||+14.8%|
There have been 66,650 shares purchased by insiders during the last 30 days.
Insider buying by calendar month
Here is a table of Peapack-Gladstone Financial's insider-trading activity by calendar month.
|Month||Insider buying / shares||Insider selling / shares|
There have been 80,450 shares purchased and there have been 6,000 shares sold by insiders this year. The month of December has seen the most insider buying.
Peapack-Gladstone Financial reported the third-quarter financial results on October 21 with the following highlights:
|Net income||$2.0 million|
|Book value||$14.12 per share|
On December 12, Peapack-Gladstone Financial closed a $42 million financing.
Peapack-Gladstone Financial has the lowest P/S ratio among these three companies.
Here is a table of these competitors' insider-trading activities this year.
|Company||Insider buying / shares||Insider selling / shares|
Only Peapack-Gladstone Financial has seen intensive insider buying during the last 30 days.
There have been 13 different insiders buying Peapack-Gladstone Financial and there have not been any insiders selling Peapack-Gladstone Financial during the last 30 days. Eight of these 13 insiders increased their holdings by more than 10%. Peapack-Gladstone Financial has an insider ownership of 13.28%.
Peapack-Gladstone Financial is trading at a P/E ratio of 20.68 and the stock has a dividend yield of 1.09%. The 200-day moving average is currently at $16.79, which could be a good entry point for the stock based on the intensive insider buying.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in PGC over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.