Peapack-Gladstone Financial (NASDAQ:PGC) Price Target Raised to $40.00 at Keefe, Bruyette & Woods

Peapack-Gladstone Financial (NASDAQ:PGC) had its price target lifted by Keefe, Bruyette & Woods from $35.00 to $40.00 in a report published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Zacks Research raised shares of Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. Piper Sandler upped their price objective on shares of Peapack-Gladstone Financial from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Peapack-Gladstone Financial currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Peapack-Gladstone Financial Stock Performance

Shares of Peapack-Gladstone Financial stock opened at $33.01 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The company has a market cap of $579.66 million, a PE ratio of 17.02 and a beta of 0.73. The company has a 50 day moving average of $28.82 and a 200-day moving average of $27.74. 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 quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $77.67 million during the quarter, compared to analysts’ expectations of $73.69 million. Peapack-Gladstone Financial had a return on equity of 5.51% and a net margin of 7.91%. As a group, equities research analysts forecast that Peapack-Gladstone Financial will post 2.71 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, February 12th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 10.31%.

Institutional Trading of Peapack-Gladstone Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGC. Wellington Management Group LLP boosted its stake in shares of Peapack-Gladstone Financial by 67.0% in 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 last quarter. Salzhauer Michael lifted its holdings in Peapack-Gladstone Financial by 79.2% in the third quarter. Salzhauer Michael now owns 254,630 shares of the financial services provider’s stock valued at $7,028,000 after buying an additional 112,504 shares during the period. Two Sigma Investments LP boosted its position in Peapack-Gladstone Financial by 59.0% during 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 last quarter. Algert Global LLC boosted its position in Peapack-Gladstone Financial by 111.7% during the third quarter. Algert Global LLC now owns 110,179 shares of the financial services provider’s stock valued at $3,041,000 after acquiring an additional 58,135 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Peapack-Gladstone Financial by 418.7% during the 3rd 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. Institutional investors and hedge funds own 72.75% of the company’s stock.

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.