Zacks: Analysts Anticipate Peapack-Gladstone Financial Co. (NASDAQ:PGC) Will Post Earnings of $0.78 Per Share

Wall Street brokerages expect that Peapack-Gladstone Financial Co. (NASDAQ:PGCGet Rating) will report earnings per share of $0.78 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Peapack-Gladstone Financial’s earnings, with estimates ranging from $0.76 to $0.79. Peapack-Gladstone Financial reported earnings per share of $0.67 in the same quarter last year, which would suggest a positive year over year growth rate of 16.4%. The company is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Peapack-Gladstone Financial will report full-year earnings of $3.33 per share for the current financial year, with EPS estimates ranging from $3.25 to $3.40. For the next year, analysts anticipate that the company will post earnings of $3.51 per share, with EPS estimates ranging from $3.45 to $3.56. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Peapack-Gladstone Financial.

Peapack-Gladstone Financial (NASDAQ:PGCGet Rating) last released its earnings results on Friday, January 28th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. Peapack-Gladstone Financial had a return on equity of 10.53% and a net margin of 24.37%. The business had revenue of $56.18 million for the quarter, compared to analyst estimates of $53.44 million.

Separately, StockNews.com started coverage on Peapack-Gladstone Financial in a research note on Thursday, March 31st. They issued a “buy” rating for the company.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGC. Brown Advisory Inc. lifted its position in shares of Peapack-Gladstone Financial by 1.6% in the 4th quarter. Brown Advisory Inc. now owns 579,420 shares of the financial services provider’s stock worth $20,511,000 after acquiring an additional 9,058 shares during the period. IndexIQ Advisors LLC boosted its position in shares of Peapack-Gladstone Financial by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 14,560 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 1,459 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Peapack-Gladstone Financial by 13.0% in the 3rd quarter. Wellington Management Group LLP now owns 684,764 shares of the financial services provider’s stock worth $22,843,000 after purchasing an additional 78,951 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Peapack-Gladstone Financial by 1.8% in the 3rd quarter. Voya Investment Management LLC now owns 20,340 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 365 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Peapack-Gladstone Financial by 84.6% during the third quarter. Citigroup Inc. now owns 2,315 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 1,061 shares in the last quarter. 72.87% of the stock is owned by institutional investors and hedge funds.

PGC traded up $0.08 during trading on Friday, reaching $33.00. 55,121 shares of the stock were exchanged, compared to its average volume of 65,043. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.93. Peapack-Gladstone Financial has a 1 year low of $28.89 and a 1 year high of $38.60. The business’s 50 day moving average price is $36.25 and its two-hundred day moving average price is $35.40. The company has a market capitalization of $600.93 million, a price-to-earnings ratio of 11.26 and a beta of 1.12.

The company also recently declared a quarterly dividend, which was paid on Friday, February 25th. Stockholders of record on Thursday, February 10th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Wednesday, February 9th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is presently 6.83%.

Peapack-Gladstone Financial Company Profile (Get Rating)

Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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Earnings History and Estimates for Peapack-Gladstone Financial (NASDAQ:PGC)

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