Research Analysts Set Expectations for Peapack-Gladstone Financial Co.’s Q2 2020 Earnings (NASDAQ:PGC)

Peapack-Gladstone Financial Co. (NASDAQ:PGC) – Stock analysts at Piper Sandler upped their Q2 2020 earnings estimates for Peapack-Gladstone Financial in a research report issued on Monday, June 29th. Piper Sandler analyst F. Schiraldi now forecasts that the financial services provider will post earnings of $0.34 per share for the quarter, up from their prior forecast of $0.31. Piper Sandler has a “Overweight” rating on the stock. Piper Sandler also issued estimates for Peapack-Gladstone Financial’s Q3 2020 earnings at $0.40 EPS, Q4 2020 earnings at $0.47 EPS and Q1 2021 earnings at $0.34 EPS.

Other analysts have also issued reports about the company. Zacks Investment Research lowered Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. BidaskClub cut Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 15th. Finally, ValuEngine cut Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Peapack-Gladstone Financial currently has a consensus rating of “Hold” and an average price target of $33.25.

Shares of PGC opened at $18.21 on Wednesday. The firm has a market cap of $317.29 million, a PE ratio of 9.44, a PEG ratio of 3.86 and a beta of 1.16. The stock’s fifty day moving average price is $18.19 and its two-hundred day moving average price is $23.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.04 and a quick ratio of 1.04. Peapack-Gladstone Financial has a 1 year low of $11.15 and a 1 year high of $31.72.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.47). The firm had revenue of $46.26 million during the quarter, compared to the consensus estimate of $45.41 million. Peapack-Gladstone Financial had a net margin of 15.64% and a return on equity of 7.52%.

Several hedge funds have recently bought and sold shares of PGC. Fuller & Thaler Asset Management Inc. purchased a new stake in Peapack-Gladstone Financial during the 1st quarter valued at $2,675,000. EJF Capital LLC boosted its stake in Peapack-Gladstone Financial by 157.0% during the 4th quarter. EJF Capital LLC now owns 158,225 shares of the financial services provider’s stock valued at $4,889,000 after purchasing an additional 96,660 shares during the last quarter. Bank of Montreal Can boosted its stake in Peapack-Gladstone Financial by 147.3% during the 4th quarter. Bank of Montreal Can now owns 146,582 shares of the financial services provider’s stock valued at $4,530,000 after purchasing an additional 87,300 shares during the last quarter. Seidman Lawrence B boosted its stake in Peapack-Gladstone Financial by 149.9% during the 1st quarter. Seidman Lawrence B now owns 124,931 shares of the financial services provider’s stock valued at $2,243,000 after purchasing an additional 74,931 shares during the last quarter. Finally, Ziegler Capital Management LLC purchased a new stake in Peapack-Gladstone Financial during the 1st quarter valued at $854,000. Hedge funds and other institutional investors own 67.12% of the company’s stock.

About Peapack-Gladstone Financial

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.

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Earnings History and Estimates for Peapack-Gladstone Financial (NASDAQ:PGC)

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