Peapack-Gladstone Financial (PGC) Rating Lowered to Strong Sell at BidaskClub

Peapack-Gladstone Financial (NASDAQ:PGC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

A number of other equities analysts have also recently weighed in on PGC. Zacks Investment Research cut Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. FIG Partners cut Peapack-Gladstone Financial from an “outperform” rating to a “market perform” rating in a report on Monday, January 28th. Finally, Gabelli started coverage on Peapack-Gladstone Financial in a report on Monday, February 11th. They issued a “buy” rating and a $37.00 price target for the company. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $36.50.

PGC opened at $26.13 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41. The firm has a market cap of $523.01 million, a price-to-earnings ratio of 11.31, a PEG ratio of 2.19 and a beta of 1.06. Peapack-Gladstone Financial has a one year low of $23.96 and a one year high of $36.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings results on Friday, January 25th. The financial services provider reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). Peapack-Gladstone Financial had a return on equity of 9.91% and a net margin of 21.67%. The company had revenue of $40.64 million during the quarter, compared to analyst estimates of $41.58 million. On average, equities analysts anticipate that Peapack-Gladstone Financial will post 2.37 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Peapack-Gladstone Financial by 4.4% in the fourth quarter. BlackRock Inc. now owns 1,252,633 shares of the financial services provider’s stock valued at $31,540,000 after purchasing an additional 52,895 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Peapack-Gladstone Financial by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,126,448 shares of the financial services provider’s stock valued at $28,364,000 after purchasing an additional 83,659 shares during the last quarter. Basswood Capital Management L.L.C. increased its stake in Peapack-Gladstone Financial by 13.0% in the fourth quarter. Basswood Capital Management L.L.C. now owns 1,057,398 shares of the financial services provider’s stock valued at $26,625,000 after purchasing an additional 121,916 shares during the last quarter. Boston Partners increased its stake in Peapack-Gladstone Financial by 46.0% in the fourth quarter. Boston Partners now owns 803,065 shares of the financial services provider’s stock valued at $20,221,000 after purchasing an additional 253,125 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in Peapack-Gladstone Financial by 0.8% in the third quarter. Vanguard Group Inc now owns 766,829 shares of the financial services provider’s stock valued at $23,686,000 after purchasing an additional 6,322 shares during the last quarter. Hedge funds and other institutional investors own 72.47% 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.

See Also: How does the Federal Reserve determine interest rates?

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.