Peapack-Gladstone Financial Corporation (PGC) Upgraded at BidaskClub
Peapack-Gladstone Financial Corporation (NASDAQ:PGC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.
Several other equities research analysts also recently weighed in on PGC. ValuEngine upgraded Peapack-Gladstone Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods assumed coverage on Peapack-Gladstone Financial Corporation in a report on Monday, July 17th. They set an “outperform” rating and a $38.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $32.00.
Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) opened at 31.53 on Friday. Peapack-Gladstone Financial Corporation has a 12 month low of $20.29 and a 12 month high of $33.68. The stock has a 50 day moving average price of $30.64 and a 200-day moving average price of $30.82. The company has a market capitalization of $548.72 million, a price-to-earnings ratio of 17.82 and a beta of 1.05.
Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last issued its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Peapack-Gladstone Financial Corporation had a return on equity of 9.12% and a net margin of 19.54%. The firm had revenue of $35.14 million for the quarter. Analysts expect that Peapack-Gladstone Financial Corporation will post $1.84 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp increased its holdings in Peapack-Gladstone Financial Corporation by 0.3% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 678,134 shares of the financial services provider’s stock worth $21,219,000 after purchasing an additional 2,232 shares during the period. Dimensional Fund Advisors LP increased its holdings in Peapack-Gladstone Financial Corporation by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 631,662 shares of the financial services provider’s stock worth $19,765,000 after purchasing an additional 34,679 shares during the period. Vanguard Group Inc. increased its holdings in Peapack-Gladstone Financial Corporation by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 602,497 shares of the financial services provider’s stock worth $18,851,000 after purchasing an additional 30,450 shares during the period. State Street Corp increased its holdings in Peapack-Gladstone Financial Corporation by 12.7% during the 2nd quarter. State Street Corp now owns 266,486 shares of the financial services provider’s stock worth $8,337,000 after purchasing an additional 29,948 shares during the period. Finally, Northern Trust Corp increased its holdings in Peapack-Gladstone Financial Corporation by 13.9% during the 2nd quarter. Northern Trust Corp now owns 218,831 shares of the financial services provider’s stock worth $6,847,000 after purchasing an additional 26,757 shares during the period. Institutional investors own 67.86% of the company’s stock.
Peapack-Gladstone Financial Corporation Company Profile
Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.
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