Brokerages Set Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Price Target at $39.33

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) have earned a consensus recommendation of “Buy” from the five analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $39.3333.

PGC has been the subject of several recent analyst reports. Piper Sandler began coverage on shares of Peapack-Gladstone Financial in a report on Monday, March 16th. They set an “overweight” rating and a $39.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Thursday, January 22nd.

Peapack-Gladstone Financial Stock Down 1.7%

PGC opened at $33.18 on Friday. The business has a 50 day moving average price of $32.66 and a 200 day moving average price of $29.43. Peapack-Gladstone Financial has a twelve month low of $23.96 and a twelve month high of $35.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $582.97 million, a P/E ratio of 15.73 and a beta of 0.70.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.69 EPS for the quarter. Peapack-Gladstone Financial had a return on equity of 5.85% and a net margin of 8.40%.The company had revenue of $77.67 million for the quarter. Research analysts forecast that Peapack-Gladstone Financial will post 2.71 EPS for the current year.

Insider Activity at Peapack-Gladstone Financial

In related news, EVP Maureen Hemhauser sold 5,272 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $35.59, for a total transaction of $187,630.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.75% of the company’s stock.

Institutional Trading of Peapack-Gladstone Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in shares of Peapack-Gladstone Financial by 40.4% in the first quarter. Royal Bank of Canada now owns 10,675 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 3,070 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Peapack-Gladstone Financial by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 390 shares during the period. Empowered Funds LLC raised its stake 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 valued at $1,575,000 after purchasing an additional 4,329 shares during the last quarter. Jane Street Group LLC raised its stake in Peapack-Gladstone Financial by 119.7% during the 1st quarter. Jane Street Group LLC now owns 52,173 shares of the financial services provider’s stock valued at $1,482,000 after purchasing an additional 28,428 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Peapack-Gladstone Financial by 47.2% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 17,887 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 5,735 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.