Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Given Average Rating of “Moderate Buy” by Analysts

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

A number of equities research analysts have commented on PGC shares. Piper Sandler raised their target price on shares of Peapack-Gladstone Financial from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Finally, Wall Street Zen upgraded Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 5th.

Peapack-Gladstone Financial Price Performance

NASDAQ PGC opened at $29.60 on Wednesday. The business’s fifty day moving average is $26.90 and its 200 day moving average is $27.57. Peapack-Gladstone Financial has a fifty-two week low of $23.96 and a fifty-two week high of $35.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The company has a market capitalization of $519.78 million, a PE ratio of 15.26 and a beta of 0.73.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.54 EPS for the quarter. Peapack-Gladstone Financial had a return on equity of 5.51% and a net margin of 7.91%.The firm had revenue of $70.93 million for the quarter. Sell-side analysts predict that Peapack-Gladstone Financial will post 2.71 earnings per share for the current year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Thursday, November 6th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, November 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 10.31%.

Insider Buying and Selling

In related news, EVP Lisa Chalkan sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $29.65, for a total value of $74,125.00. Following the transaction, the executive vice president directly owned 23,602 shares of the company’s stock, valued at approximately $699,799.30. The trade was a 9.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Several hedge funds have recently modified their holdings of PGC. Philadelphia Trust Co. boosted its stake in Peapack-Gladstone Financial by 14.0% during the first quarter. Philadelphia Trust Co. now owns 372,560 shares of the financial services provider’s stock valued at $10,581,000 after buying an additional 45,825 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Peapack-Gladstone Financial by 2.4% during the 1st quarter. Acadian Asset Management LLC now owns 95,821 shares of the financial services provider’s stock valued at $2,721,000 after acquiring an additional 2,288 shares during the last quarter. CW Advisors LLC purchased a new position in shares of Peapack-Gladstone Financial in the first quarter valued at $639,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Peapack-Gladstone Financial by 6.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 269,530 shares of the financial services provider’s stock valued at $7,655,000 after purchasing an additional 16,390 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Peapack-Gladstone Financial by 0.4% in the first quarter. American Century Companies Inc. now owns 340,561 shares of the financial services provider’s stock worth $9,672,000 after purchasing an additional 1,413 shares during the last quarter. Hedge funds and other institutional investors own 72.75% 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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.