Peapack-Gladstone Financial Co. (PGC) Receives $37.50 Average PT from Analysts

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Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $37.50.

A number of analysts have recently weighed in on the stock. BidaskClub cut shares of Peapack-Gladstone Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Zacks Investment Research cut shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. ValuEngine cut shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $36.00 target price on shares of Peapack-Gladstone Financial in a research note on Wednesday, October 31st.

In other Peapack-Gladstone Financial news, CFO Jeffrey J. Carfora acquired 1,500 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was bought at an average price of $28.21 per share, for a total transaction of $42,315.00. Following the purchase, the chief financial officer now owns 81,116 shares in the company, valued at approximately $2,288,282.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas L. Kennedy acquired 1,000 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was acquired at an average price of $27.96 per share, with a total value of $27,960.00. Following the purchase, the chief executive officer now owns 100,049 shares in the company, valued at approximately $2,797,370.04. The disclosure for this purchase can be found here. 4.84% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc grew its holdings in shares of Peapack-Gladstone Financial by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 766,829 shares of the financial services provider’s stock worth $23,686,000 after purchasing an additional 6,322 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Peapack-Gladstone Financial by 13.3% in the 3rd quarter. Federated Investors Inc. PA now owns 136,961 shares of the financial services provider’s stock worth $4,231,000 after purchasing an additional 16,101 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Peapack-Gladstone Financial in the 3rd quarter worth about $208,000. Vanguard Group Inc. grew its holdings in shares of Peapack-Gladstone Financial by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 766,829 shares of the financial services provider’s stock worth $23,686,000 after purchasing an additional 6,322 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Peapack-Gladstone Financial by 22.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 86,630 shares of the financial services provider’s stock worth $2,676,000 after purchasing an additional 15,871 shares during the last quarter. Institutional investors own 71.49% of the company’s stock.

Shares of Peapack-Gladstone Financial stock traded down $0.21 on Friday, reaching $26.37. The stock had a trading volume of 67,700 shares, compared to its average volume of 68,650. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.37. Peapack-Gladstone Financial has a fifty-two week low of $23.96 and a fifty-two week high of $38.00. The stock has a market capitalization of $514.06 million, a price-to-earnings ratio of 13.59 and a beta of 1.04.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings data on Friday, October 26th. The financial services provider reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.03). Peapack-Gladstone Financial had a return on equity of 9.83% and a net margin of 22.25%. The firm had revenue of $39.13 million during the quarter, compared to analyst estimates of $42.08 million. As a group, research analysts predict that Peapack-Gladstone Financial will post 2.37 earnings per share for the current year.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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