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

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

PGC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Peapack-Gladstone Financial in a report on Thursday, January 22nd. Piper Sandler upped their target price on Peapack-Gladstone Financial from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Finally, Zacks Research upgraded Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th.

Institutional Trading of Peapack-Gladstone Financial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC increased its position in shares of Peapack-Gladstone Financial by 338.9% during the 2nd quarter. CWM LLC now owns 913 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 705 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Peapack-Gladstone Financial by 431.5% in the fourth quarter. State of Alaska Department of Revenue now owns 3,768 shares of the financial services provider’s stock worth $104,000 after buying an additional 3,059 shares in the last quarter. Aquatic Capital Management LLC grew its position in Peapack-Gladstone Financial by 23.1% during the third quarter. Aquatic Capital Management LLC now owns 5,240 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 985 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Peapack-Gladstone Financial by 68.0% during the third quarter. Quantbot Technologies LP now owns 7,381 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 2,987 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Peapack-Gladstone Financial in the 3rd quarter worth approximately $226,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Peapack-Gladstone Financial Trading Down 0.6%

Shares of PGC stock opened at $29.23 on Thursday. The company’s fifty day simple moving average is $28.47 and its two-hundred day simple moving average is $27.72. The stock has a market capitalization of $513.28 million, a price-to-earnings ratio of 15.07 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. Peapack-Gladstone Financial has a 1 year low of $23.96 and a 1 year high of $35.41.

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 business had revenue of $70.93 million during the quarter. As a group, analysts anticipate that Peapack-Gladstone Financial will post 2.71 earnings per share for the current year.

About Peapack-Gladstone Financial

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.