Peapack-Gladstone Financial (NASDAQ:PGC) Hits New 1-Year High – Time to Buy?

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) reached a new 52-week high on Tuesday . The company traded as high as $36.84 and last traded at $36.73, with a volume of 100128 shares changing hands. The stock had previously closed at $36.21.

Analyst Upgrades and Downgrades

PGC has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on Peapack-Gladstone Financial from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Keefe, Bruyette & Woods lifted their target price on Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Peapack-Gladstone Financial in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.00.

Peapack-Gladstone Financial Stock Up 1.4%

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $645.35 million, a PE ratio of 17.41 and a beta of 0.63. The company has a fifty day moving average price of $33.98 and a 200 day moving average price of $29.90.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings data 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 during the quarter. As a group, analysts anticipate that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current year.

Insider Activity at Peapack-Gladstone Financial

In other 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.75% of the company’s stock.

Institutional Trading of Peapack-Gladstone Financial

Several hedge funds and other institutional investors have recently bought and sold shares of PGC. Royal Bank of Canada boosted its stake in 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 worth $302,000 after buying an additional 3,070 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Peapack-Gladstone Financial by 4.1% in 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 buying an additional 390 shares in the last quarter. Empowered Funds LLC boosted its stake in Peapack-Gladstone Financial by 8.5% in the first quarter. Empowered Funds LLC now owns 55,450 shares of the financial services provider’s stock worth $1,575,000 after buying an additional 4,329 shares in the last quarter. Jane Street Group LLC boosted its stake 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 worth $1,482,000 after buying an additional 28,428 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Peapack-Gladstone Financial by 13.9% in the second quarter. Legal & General Group Plc now owns 15,898 shares of the financial services provider’s stock worth $449,000 after buying an additional 1,945 shares in the last quarter. Hedge funds and other institutional investors 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.