Brokerages Set Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Price Target at $39.33

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

A number of brokerages have recently commented on PGC. Keefe, Bruyette & Woods lifted their price objective on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Piper Sandler started coverage on shares of Peapack-Gladstone Financial in a report on Monday, March 16th. They issued an “overweight” rating and a $39.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research note on Thursday, January 22nd.

Peapack-Gladstone Financial Trading Up 0.7%

NASDAQ PGC opened at $34.83 on Friday. The company has a market cap of $612.00 million, a PE ratio of 16.51 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. Peapack-Gladstone Financial has a 12 month low of $23.96 and a 12 month high of $35.87. The stock has a 50 day moving average of $33.15 and a 200-day moving average of $29.58.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Thursday, January 29th. The financial services provider reported $0.69 earnings per share for the quarter. Peapack-Gladstone Financial had a net margin of 8.40% and a return on equity of 5.85%. The business had revenue of $77.67 million for the quarter. On average, equities research analysts anticipate that Peapack-Gladstone Financial will post 2.71 EPS for the current fiscal year.

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 document filed with the SEC, which is accessible through this link. 5.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in 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 valued at $31,429,000 after acquiring an additional 456,828 shares during the period. Salzhauer Michael lifted its holdings in Peapack-Gladstone Financial by 79.2% during the 3rd quarter. Salzhauer Michael now owns 254,630 shares of the financial services provider’s stock valued at $7,028,000 after purchasing an additional 112,504 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Peapack-Gladstone Financial by 255.0% during the fourth quarter. Russell Investments Group Ltd. now owns 108,782 shares of the financial services provider’s stock worth $3,030,000 after purchasing an additional 78,135 shares during the period. Millennium Management LLC boosted its position in Peapack-Gladstone Financial by 100.8% during the fourth quarter. Millennium Management LLC now owns 143,306 shares of the financial services provider’s stock worth $3,991,000 after purchasing an additional 71,932 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Peapack-Gladstone Financial in the fourth quarter valued at $1,965,000. 72.75% of the stock is owned by institutional investors and hedge funds.

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.