Peapack-Gladstone Financial (NASDAQ: PGC) recently received a number of ratings updates from brokerages and research firms:

  • 11/14/2018 – Peapack-Gladstone Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 11/13/2018 – Peapack-Gladstone Financial was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 11/8/2018 – Peapack-Gladstone Financial was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 11/2/2018 – Peapack-Gladstone Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 10/31/2018 – Peapack-Gladstone Financial had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $36.00 price target on the stock.
  • 9/27/2018 – Peapack-Gladstone Financial was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/26/2018 – Peapack-Gladstone Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “

Shares of PGC stock opened at $27.46 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.37. Peapack-Gladstone Financial Co. has a 12-month low of $25.82 and a 12-month high of $38.00. The company has a market cap of $523.49 million, a PE ratio of 14.15 and a beta of 0.97.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, November 8th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.73%. Peapack-Gladstone Financial’s payout ratio is currently 10.31%.

In related news, CFO Jeffrey J. Carfora purchased 1,500 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was bought at an average price of $28.21 per share, for a total transaction of $42,315.00. Following the purchase, the chief financial officer now directly owns 81,116 shares in the company, valued at approximately $2,288,282.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas L. Kennedy purchased 1,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were bought at an average price of $27.96 per share, with a total value of $27,960.00. Following the purchase, the chief executive officer now owns 100,049 shares in the company, valued at $2,797,370.04. The disclosure for this purchase can be found here. Company insiders own 4.84% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC grew its stake in Peapack-Gladstone Financial by 22.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 86,630 shares of the financial services provider’s stock valued at $2,676,000 after buying an additional 15,871 shares in the last quarter. AQR Capital Management LLC grew its stake in Peapack-Gladstone Financial by 6.3% in the 3rd quarter. AQR Capital Management LLC now owns 76,335 shares of the financial services provider’s stock valued at $2,358,000 after buying an additional 4,534 shares in the last quarter. IndexIQ Advisors LLC grew its stake in Peapack-Gladstone Financial by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 68,082 shares of the financial services provider’s stock valued at $2,103,000 after buying an additional 2,571 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in Peapack-Gladstone Financial by 51.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 12,623 shares of the financial services provider’s stock valued at $390,000 after buying an additional 4,312 shares in the last quarter. Finally, Bailard Inc. grew its stake in Peapack-Gladstone Financial by 23.5% in the 3rd quarter. Bailard Inc. now owns 18,400 shares of the financial services provider’s stock valued at $568,000 after buying an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.

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.

Recommended Story: What is Cost of Debt?

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