Peapack-Gladstone Financial (NASDAQ:PGC) Reaches New 52-Week High – Time to Buy?

Peapack-Gladstone Financial Corporation (NASDAQ:PGC)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $40.41 and last traded at $39.38, with a volume of 134367 shares traded. The stock had previously closed at $39.44.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PGC. Piper Sandler lifted their target price on Peapack-Gladstone Financial from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Peapack-Gladstone Financial presently has an average rating of “Moderate Buy” and an average target price of $40.50.

Peapack-Gladstone Financial Trading Up 0.8%

The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $698.80 million, a price-to-earnings ratio of 18.85 and a beta of 0.63. The firm’s 50-day moving average is $35.09 and its 200 day moving average is $30.55.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.69 earnings per share (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 during the quarter. On average, equities analysts predict that Peapack-Gladstone Financial Corporation will post 2.71 earnings per share for the current fiscal year.

Insider Transactions at Peapack-Gladstone Financial

In other news, EVP Maureen Hemhauser sold 5,272 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $35.59, for a total transaction of $187,630.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.75% of the company’s stock.

Institutional Trading of Peapack-Gladstone Financial

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of Peapack-Gladstone Financial by 67.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,138,723 shares of the financial services provider’s stock worth $31,429,000 after purchasing an additional 456,828 shares during the period. Vanguard Group Inc. raised its holdings 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 worth $26,897,000 after acquiring an additional 28,489 shares during the last quarter. State Street Corp lifted its holdings in shares of Peapack-Gladstone Financial by 6.2% during the fourth quarter. State Street Corp now owns 549,447 shares of the financial services provider’s stock valued at $15,302,000 after purchasing an additional 31,917 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Peapack-Gladstone Financial by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 452,521 shares of the financial services provider’s stock valued at $12,605,000 after acquiring an additional 5,260 shares during the last quarter. Finally, Salzhauer Michael boosted its holdings in Peapack-Gladstone Financial by 5.7% in the fourth quarter. Salzhauer Michael now owns 269,242 shares of the financial services provider’s stock worth $7,498,000 after purchasing an additional 14,612 shares during the last quarter. Institutional investors own 72.75% of the company’s stock.

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.