Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Receives Average Rating of “Buy” from Analysts
by Michael Walen · The Markets DailyShares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC – Get Free Report) have been given an average rating of “Buy” by the five brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $39.3333.
A number of brokerages recently commented on PGC. Weiss Ratings restated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their target price on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Finally, Piper Sandler started coverage on Peapack-Gladstone Financial in a report on Monday. They set an “overweight” rating and a $39.00 target price for the company.
Read Our Latest Stock Report on PGC
Insider Buying and Selling at Peapack-Gladstone Financial
In other Peapack-Gladstone Financial news, EVP Maureen Hemhauser sold 5,272 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $35.59, for a total value of $187,630.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.63% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Peapack-Gladstone Financial
Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of 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 purchasing an additional 3,070 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $282,000 after purchasing an additional 390 shares in the last quarter. Empowered Funds LLC increased its stake 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 valued at $1,575,000 after buying an additional 4,329 shares during the last quarter. Jane Street Group LLC increased its stake in Peapack-Gladstone Financial by 119.7% in the 1st quarter. Jane Street Group LLC now owns 52,173 shares of the financial services provider’s stock valued at $1,482,000 after buying an additional 28,428 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Peapack-Gladstone Financial by 47.2% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 17,887 shares of the financial services provider’s stock worth $505,000 after buying an additional 5,735 shares in the last quarter. 72.75% of the stock is owned by institutional investors.
Peapack-Gladstone Financial Price Performance
NASDAQ PGC opened at $33.76 on Friday. The business has a 50 day simple moving average of $32.57 and a 200 day simple moving average of $29.39. Peapack-Gladstone Financial has a 52-week low of $23.96 and a 52-week high of $35.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $593.16 million, a price-to-earnings ratio of 16.00 and a beta of 0.70.
Peapack-Gladstone Financial (NASDAQ:PGC – Get Free Report) last announced its earnings results on Thursday, January 29th. The financial services provider reported $0.69 EPS for the quarter. Peapack-Gladstone Financial had a net margin of 8.40% and a return on equity of 5.85%. The firm had revenue of $77.67 million for the quarter. Analysts anticipate that Peapack-Gladstone Financial will post 2.71 earnings per share for the current fiscal year.
Peapack-Gladstone Financial Company Profile
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.