Peapack-Gladstone Financial (NASDAQ:PGC) Upgraded at Janney Montgomery Scott

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Janney Montgomery Scott upgraded shares of Peapack-Gladstone Financial (NASDAQ:PGC) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Benzinga reports.

Several other equities analysts also recently weighed in on PGC. DA Davidson upgraded Peapack-Gladstone Financial from a neutral rating to a buy rating and set a $33.50 target price on the stock in a research report on Thursday, January 30th. Zacks Investment Research upgraded Peapack-Gladstone Financial from a hold rating to a buy rating and set a $33.00 target price on the stock in a research report on Tuesday, February 4th. BidaskClub upgraded Peapack-Gladstone Financial from a strong sell rating to a sell rating in a research report on Tuesday, February 4th. Finally, ValuEngine downgraded Peapack-Gladstone Financial from a hold rating to a sell rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $33.25.

Peapack-Gladstone Financial stock opened at $31.35 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $598.58 million, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.88 and a beta of 1.00. Peapack-Gladstone Financial has a fifty-two week low of $24.95 and a fifty-two week high of $31.72. The stock’s fifty day moving average is $30.19 and its two-hundred day moving average is $29.14.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Peapack-Gladstone Financial had a return on equity of 9.68% and a net margin of 20.15%. The business had revenue of $46.44 million for the quarter, compared to the consensus estimate of $46.36 million. As a group, sell-side analysts forecast that Peapack-Gladstone Financial will post 2.63 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 11th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 8.20%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in Peapack-Gladstone Financial by 10.5% during the 4th quarter. Victory Capital Management Inc. now owns 3,442 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 326 shares in the last quarter. California State Teachers Retirement System grew its stake in Peapack-Gladstone Financial by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 29,466 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 352 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Peapack-Gladstone Financial by 77.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 1,578 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 688 shares in the last quarter. Swiss National Bank grew its stake in Peapack-Gladstone Financial by 3.3% during the 4th quarter. Swiss National Bank now owns 31,600 shares of the financial services provider’s stock valued at $976,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Peapack-Gladstone Financial during the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 71.10% of the company’s stock.

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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