Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Receives $37.00 Consensus Price Target from Analysts

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $39.3333.

Several research firms have weighed in on PGC. Keefe, Bruyette & Woods raised their target price on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Thursday, January 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $39.00 price objective (up from $35.00) on shares of Peapack-Gladstone Financial in a research note on Friday.

Peapack-Gladstone Financial Stock Performance

Shares of PGC stock opened at $33.49 on Monday. The stock has a fifty day moving average price of $31.02 and a 200 day moving average price of $28.81. 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 stock has a market cap of $588.08 million, a PE ratio of 15.87 and a beta of 0.70. Peapack-Gladstone Financial has a 1 year low of $23.96 and a 1 year high of $35.68.

Peapack-Gladstone Financial (NASDAQ:PGC) last released 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 return on equity of 5.91% and a net margin of 8.40%.The business had revenue of $77.67 million during the quarter. Sell-side analysts forecast that Peapack-Gladstone Financial will post 2.71 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, February 12th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 9.48%.

Insider Transactions at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP Maureen Hemhauser sold 5,272 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $35.59, for a total value of $187,630.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Institutional investors have recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Peapack-Gladstone Financial by 338.9% in the 2nd quarter. CWM LLC now owns 913 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 705 shares during the period. State of Alaska Department of Revenue boosted its position in Peapack-Gladstone Financial by 431.5% during the 4th quarter. State of Alaska Department of Revenue now owns 3,768 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 3,059 shares during the period. Aquatic Capital Management LLC grew its stake in shares of Peapack-Gladstone Financial by 23.1% in the third quarter. Aquatic Capital Management LLC now owns 5,240 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 985 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Peapack-Gladstone Financial by 68.0% in the third quarter. Quantbot Technologies LP now owns 7,381 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 2,987 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Peapack-Gladstone Financial during the fourth quarter valued at $206,000. 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.