Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Receives Consensus Rating of “Moderate Buy” from Analysts

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) has earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $35.3333.

A number of research analysts recently weighed in on the company. Zacks Research raised Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research note on Wednesday, October 8th. Finally, Piper Sandler raised their target price on shares of Peapack-Gladstone Financial from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Peapack-Gladstone Financial by 67.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,138,723 shares of the financial services provider’s stock valued at $31,429,000 after purchasing an additional 456,828 shares during the period. Salzhauer Michael lifted its holdings in shares of Peapack-Gladstone Financial by 79.2% during the third quarter. Salzhauer Michael now owns 254,630 shares of the financial services provider’s stock worth $7,028,000 after buying an additional 112,504 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Peapack-Gladstone Financial by 59.0% in the third quarter. Two Sigma Investments LP now owns 156,903 shares of the financial services provider’s stock valued at $4,331,000 after acquiring an additional 58,220 shares during the period. Algert Global LLC grew its stake in shares of Peapack-Gladstone Financial by 111.7% in the third quarter. Algert Global LLC now owns 110,179 shares of the financial services provider’s stock worth $3,041,000 after acquiring an additional 58,135 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Peapack-Gladstone Financial by 418.7% during the third quarter. First Trust Advisors LP now owns 58,926 shares of the financial services provider’s stock worth $1,626,000 after acquiring an additional 47,565 shares during the period. 72.75% of the stock is currently owned by institutional investors.

Peapack-Gladstone Financial Stock Down 0.2%

PGC stock opened at $27.79 on Friday. The firm has a market cap of $487.99 million, a PE ratio of 14.32 and a beta of 0.72. Peapack-Gladstone Financial has a 1 year low of $23.96 and a 1 year high of $35.41. The company has a fifty day simple moving average of $27.22 and a 200 day simple moving average of $27.67. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $0.54 earnings per share for the quarter. Peapack-Gladstone Financial had a return on equity of 5.51% and a net margin of 7.91%.The company had revenue of $70.93 million for the quarter. Sell-side analysts anticipate that Peapack-Gladstone Financial will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.