BidaskClub upgraded shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) from a sell rating to a hold rating in a research note released on Friday morning.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods assumed coverage on shares of Peapack-Gladstone Financial Corporation in a research note on Monday, July 17th. They issued an outperform rating and a $38.00 target price for the company. ValuEngine upgraded shares of Peapack-Gladstone Financial Corporation from a hold rating to a buy rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Peapack-Gladstone Financial Corporation has an average rating of Buy and a consensus price target of $32.00.

Shares of Peapack-Gladstone Financial Corporation (PGC) opened at 32.02 on Friday. The stock has a 50 day moving average of $30.63 and a 200 day moving average of $30.82. Peapack-Gladstone Financial Corporation has a 52-week low of $20.29 and a 52-week high of $33.68. The firm has a market capitalization of $557.24 million, a price-to-earnings ratio of 18.10 and a beta of 1.05.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last released its earnings results on Friday, July 28th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $35.14 million for the quarter. Peapack-Gladstone Financial Corporation had a net margin of 19.54% and a return on equity of 9.12%. On average, analysts predict that Peapack-Gladstone Financial Corporation will post $1.84 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.20 annualized dividend and a yield of 0.62%. Peapack-Gladstone Financial Corporation’s dividend payout ratio (DPR) is 11.30%.

A number of hedge funds and other institutional investors have recently modified their holdings of PGC. Citigroup Inc. lifted its position in Peapack-Gladstone Financial Corporation by 288.3% during the 2nd quarter. Citigroup Inc. now owns 4,349 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 3,229 shares during the period. Voya Investment Management LLC acquired a new stake in shares of Peapack-Gladstone Financial Corporation in the 2nd quarter valued at approximately $223,000. Marshall Wace North America L.P. acquired a new stake in shares of Peapack-Gladstone Financial Corporation in the 2nd quarter valued at approximately $267,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Peapack-Gladstone Financial Corporation in the 2nd quarter valued at approximately $271,000. Finally, Trexquant Investment LP acquired a new stake in shares of Peapack-Gladstone Financial Corporation in the 2nd quarter valued at approximately $304,000. Institutional investors and hedge funds own 67.86% of the company’s stock.

About Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.

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