Patrick Campion, a director of Peapack-Gladstone Financial Corp (NASDAQ: PGC), acquired 1,429.602 shares of common stock on March 30, 2026. The shares were purchased at $34.97 each for a total cash outlay of $49,993. The transaction occurred while the stock was trading close to its 52-week high of $35.87 and after the name delivered a 27% year-to-date return.
According to InvestingPro, the stock appears undervalued at current levels, with additional analysis available to subscribers. The company filing shows that after this purchase Campion directly holds 3,104.602 shares of Peapack-Gladstone Financial Corp.
Earlier in the month, on March 20, 2026, Campion received a grant of 1,491 restricted stock units. Those RSUs vest on the one-year anniversary of the grant.
Separately, the firm announced a strategic capital move: a $50 million preferred stock commitment from Strategic Value Bank Partners. The arrangement includes an initial private placement of $30 million of non-cumulative perpetual convertible preferred stock and an option to issue an additional $20 million by the end of 2027. The preferred shares carry a 6.00% annual dividend rate and are non-callable for five years.
Peapack-Gladstone also plans to redeem $100 million in subordinated notes due December 2030. Management says this action will leave the company well-capitalized after the redemption.
Following the preferred stock announcement, Raymond James reiterated a Strong Buy rating on Peapack-Gladstone and maintained a $39.00 price target. The brokerage cited the bank's strategic financial moves, including the preferred stock commitment, as positive developments.
The company has also implemented executive incentive awards. Performance-based restricted stock units were granted to Chief Executive Douglas Kennedy and Chief Financial Officer John Babcock, designed to promote retention through 2028. Those RSUs are tied to the achievement of specific company performance goals.
The sequence of insider buying, capital markets transactions and executive incentive grants together paint a picture of active balance sheet management and retention-focused compensation programs. The available public details note that Campion's recent purchase increases his direct ownership and that other corporate actions aim to bolster capital structure and executive alignment with performance targets.