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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:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. 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.


(Click to enlarge)

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
December 2013 66,650 0
November 2013 0 0
October 2013 0 0
September 2013 0 6,000
August 2013 3,500 0
July 2013 0 0
June 2013 0 0
May 2013 6,300 0
April 2013 0 0
March 2013 3,000 0
February 2013 1,000 0
January 2013 0 0

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.

Financials

Peapack-Gladstone Financial reported the third-quarter financial results on October 21 with the following highlights:

Revenue $18.2 million
Net income $2.0 million
Book value $14.12 per share

On December 12, Peapack-Gladstone Financial closed a $42 million financing.

Competition

Peapack-Gladstone Financial's competitors include Hudson City Bancorp (NASDAQ:HCBK), and PNC Financial Services Group (NYSE:PNC). Here is a table comparing these companies.

Company PGC HCBK PNC Industry Average (Regional - Northeast Banks)
Market Cap: 163.70M 4.49B 39.91B 73.09M
Employees: 292 1,525 50,947 215.00
Qtrly Rev Growth (yoy): 0.05 -0.20 -0.02 0.09
Revenue: 67.33M 635.72M 15.10B 37.12M
Operating Margin: 0.21 0.63 0.32 0.27
Net Income: 7.92M 187.34M 3.62B N/A
EPS: 0.88 0.37 6.79 0.89
P/E: 20.68 24.54 11.07 15.65
PEG (5 yr expected): N/A 2.01 1.35 3.76
P/S: 2.44 7.23 2.66 2.79

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
HCBK 0 60,250
PNC 0 1,471,146

Only Peapack-Gladstone Financial has seen intensive insider buying during the last 30 days.

Conclusion

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.

Source: Peapack-Gladstone Financial: 13 Different Insiders Have Purchased Shares This Month