Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) have earned an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.3333.

PGC has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a report on Wednesday, October 8th. Zacks Research raised Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Finally, Piper Sandler lifted their price objective on Peapack-Gladstone Financial from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th.

Peapack-Gladstone Financial Stock Performance

Shares of PGC stock opened at $28.56 on Friday. The company’s fifty day moving average price is $27.47 and its 200-day moving average price is $27.72. The stock has a market cap of $501.51 million, a PE ratio of 14.72 and a beta of 0.72. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Peapack-Gladstone Financial has a 12 month low of $23.96 and a 12 month high of $35.41.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter. Peapack-Gladstone Financial had a net margin of 7.91% and a return on equity of 5.51%. The company had revenue of $70.93 million during the quarter. On average, equities analysts expect that Peapack-Gladstone Financial will post 2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Peapack-Gladstone Financial

A number of hedge funds have recently added to or reduced their stakes in the company. Trexquant Investment LP increased its holdings in shares of Peapack-Gladstone Financial by 50.9% in the 1st quarter. Trexquant Investment LP now owns 54,826 shares of the financial services provider’s stock worth $1,557,000 after purchasing an additional 18,495 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Peapack-Gladstone Financial by 40.4% during the first quarter. Royal Bank of Canada now owns 10,675 shares of the financial services provider’s stock valued at $302,000 after buying an additional 3,070 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in Peapack-Gladstone Financial by 4.6% in the 1st quarter. Bridgeway Capital Management LLC now owns 99,344 shares of the financial services provider’s stock worth $2,821,000 after buying an additional 4,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Peapack-Gladstone Financial by 4.1% in the 1st 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. Finally, Empowered Funds LLC raised its position in Peapack-Gladstone Financial by 8.5% in the 1st 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 during the last quarter. 72.75% of the stock is currently owned by hedge funds and other institutional investors.

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.