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

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) have been assigned an average rating of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $37.00.

PGC has been the subject of several analyst reports. Piper Sandler upped their target price on Peapack-Gladstone Financial from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd.

Insider Buying and Selling at Peapack-Gladstone Financial

In other news, EVP Maureen Hemhauser sold 5,272 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $35.59, for a total transaction of $187,630.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGC. Royal Bank of Canada increased its stake in Peapack-Gladstone Financial by 40.4% during the first quarter. Royal Bank of Canada now owns 10,675 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 3,070 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Peapack-Gladstone Financial by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 390 shares during the period. Empowered Funds LLC increased its position in Peapack-Gladstone Financial by 8.5% during the 1st quarter. Empowered Funds LLC now owns 55,450 shares of the financial services provider’s stock worth $1,575,000 after purchasing an additional 4,329 shares in the last quarter. Jane Street Group LLC raised its holdings in Peapack-Gladstone Financial by 119.7% in the first quarter. Jane Street Group LLC now owns 52,173 shares of the financial services provider’s stock valued at $1,482,000 after buying an additional 28,428 shares during the period. Finally, CWM LLC lifted its holdings 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 acquiring an additional 705 shares in the last quarter. Institutional investors and hedge funds own 72.75% of the company’s stock.

Peapack-Gladstone Financial Stock Performance

Shares of PGC opened at $34.58 on Monday. Peapack-Gladstone Financial has a 1 year low of $23.96 and a 1 year high of $35.68. The company’s 50 day simple moving average is $30.63 and its 200 day simple moving average is $28.54. The company has a market capitalization of $607.22 million, a price-to-earnings ratio of 16.39 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.69 earnings per share for the quarter. Peapack-Gladstone Financial had a return on equity of 5.91% and a net margin of 8.40%.The company had revenue of $77.67 million during the quarter. On average, sell-side analysts predict that Peapack-Gladstone Financial will post 2.71 EPS for the current year.

Peapack-Gladstone Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 9.48%.

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.