Peapack-Gladstone Financial (NASDAQ:PGC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “The Peapack-Gladstone Financial Corporation is a bank holding company for Peapack-Gladstone Bank. The Bank is primarily dedicated to providing quality, personalized financial, trust and investment services to individuals and small businesses. “

PGC has been the topic of several other reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $36.00 target price on shares of Peapack-Gladstone Financial in a research report on Wednesday, October 31st. BidaskClub downgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 13th. ValuEngine downgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, FIG Partners reissued an “outperform” rating on shares of Peapack-Gladstone Financial in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Peapack-Gladstone Financial currently has a consensus rating of “Hold” and a consensus price target of $37.50.

Shares of NASDAQ:PGC opened at $27.95 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.37. Peapack-Gladstone Financial has a 1 year low of $25.82 and a 1 year high of $38.00. The firm has a market cap of $528.89 million, a P/E ratio of 14.41 and a beta of 0.97.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Friday, October 26th. The financial services provider reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.03). The business had revenue of $39.13 million for the quarter, compared to analyst estimates of $42.08 million. Peapack-Gladstone Financial had a return on equity of 9.83% and a net margin of 22.25%. Analysts anticipate that Peapack-Gladstone Financial will post 2.37 earnings per share for the current year.

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy purchased 1,000 shares of the business’s stock in a transaction on Monday, November 5th. The stock was purchased at an average price of $27.96 per share, for a total transaction of $27,960.00. Following the completion of the purchase, the chief executive officer now directly owns 100,049 shares in the company, valued at $2,797,370.04. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey J. Carfora purchased 1,500 shares of the business’s stock in a transaction on Monday, November 5th. The shares were acquired at an average price of $28.21 per share, with a total value of $42,315.00. Following the purchase, the chief financial officer now owns 81,116 shares of the company’s stock, valued at $2,288,282.36. The disclosure for this purchase can be found here. 4.84% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in shares of Peapack-Gladstone Financial by 114.5% in the third quarter. Russell Investments Group Ltd. now owns 479,856 shares of the financial services provider’s stock valued at $14,822,000 after acquiring an additional 256,156 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Peapack-Gladstone Financial by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 959,595 shares of the financial services provider’s stock valued at $33,192,000 after acquiring an additional 124,523 shares during the last quarter. BlackRock Inc. raised its stake in shares of Peapack-Gladstone Financial by 9.2% in the second quarter. BlackRock Inc. now owns 1,180,069 shares of the financial services provider’s stock valued at $40,819,000 after acquiring an additional 99,002 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of Peapack-Gladstone Financial by 163.7% in the second quarter. Federated Investors Inc. PA now owns 120,860 shares of the financial services provider’s stock valued at $4,181,000 after acquiring an additional 75,030 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Peapack-Gladstone Financial by 14.5% in the second quarter. Boston Partners now owns 492,097 shares of the financial services provider’s stock valued at $17,022,000 after acquiring an additional 62,339 shares during the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

Further Reading: Why investors pay attention to retained earnings

Get a free copy of the Zacks research report on Peapack-Gladstone Financial (PGC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Peapack-Gladstone Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peapack-Gladstone Financial and related companies with MarketBeat.com's FREE daily email newsletter.