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

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) have been given a consensus rating of “Moderate Buy” by the five research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.3333.

A number of equities analysts recently commented on the stock. Zacks Research raised shares of Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Wednesday, October 8th. Finally, Piper Sandler upped their target price 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

NASDAQ PGC opened at $28.77 on Friday. The business’s 50 day moving average price is $27.40 and its 200-day moving average price is $27.71. Peapack-Gladstone Financial has a fifty-two week low of $23.96 and a fifty-two week high of $35.41. The company has a market cap of $505.20 million, a P/E ratio of 14.83 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.

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 return on equity of 5.51% and a net margin of 7.91%.The company had revenue of $70.93 million during the quarter. Sell-side analysts predict that Peapack-Gladstone Financial will post 2.71 earnings per share for the current year.

Institutional Trading of Peapack-Gladstone Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Peapack-Gladstone Financial by 67.0% during the third quarter. Wellington Management Group LLP now owns 1,138,723 shares of the financial services provider’s stock valued at $31,429,000 after purchasing an additional 456,828 shares during the period. Vanguard Group Inc. boosted its position in Peapack-Gladstone Financial by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 974,523 shares of the financial services provider’s stock valued at $26,897,000 after buying an additional 28,489 shares during the period. Salzhauer Michael boosted its position in Peapack-Gladstone Financial by 79.2% in the 3rd quarter. Salzhauer Michael now owns 254,630 shares of the financial services provider’s stock valued at $7,028,000 after buying an additional 112,504 shares during the period. Prudential Financial Inc. grew its stake in Peapack-Gladstone Financial by 10.6% in the 2nd quarter. Prudential Financial Inc. now owns 226,145 shares of the financial services provider’s stock worth $6,389,000 after acquiring an additional 21,645 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Peapack-Gladstone Financial by 59.0% during the third quarter. Two Sigma Investments LP now owns 156,903 shares of the financial services provider’s stock worth $4,331,000 after acquiring an additional 58,220 shares during the period. 72.75% of the stock is currently owned by institutional investors.

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.