Peapack-Gladstone Financial Corporation (NASDAQ:PGC) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other equities analysts have also issued reports about the company. ValuEngine upgraded Peapack-Gladstone Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods initiated coverage on Peapack-Gladstone Financial Corporation in a research report on Monday, July 17th. They issued an “outperform” rating and a $38.00 price objective for the company. Finally, Hovde Group initiated coverage on Peapack-Gladstone Financial Corporation in a research report on Thursday, April 13th. They issued an “outperform” rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Peapack-Gladstone Financial Corporation has an average rating of “Hold” and a consensus price target of $32.00.

Peapack-Gladstone Financial Corporation (PGC) traded up 0.45% during mid-day trading on Friday, hitting $31.43. 64,505 shares of the company traded hands. The company has a market capitalization of $550.18 million, a price-to-earnings ratio of 17.77 and a beta of 1.03. Peapack-Gladstone Financial Corporation has a one year low of $19.63 and a one year high of $33.68. The company’s 50-day moving average price is $31.79 and its 200 day moving average price is $31.02.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last issued its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Peapack-Gladstone Financial Corporation had a return on equity of 9.35% and a net margin of 19.54%. The business had revenue of $35.14 million during the quarter. On average, analysts anticipate that Peapack-Gladstone Financial Corporation will post $1.82 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Peapack-Gladstone Financial Corporation (PGC) Stock Rating Lowered by BidaskClub” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/08/05/peapack-gladstone-financial-corporation-pgc-stock-rating-lowered-by-bidaskclub.html.

Several institutional investors have recently modified their holdings of PGC. Marshall Wace North America L.P. acquired a new position in shares of Peapack-Gladstone Financial Corporation during the second quarter valued at about $267,000. Trexquant Investment LP purchased a new position in Peapack-Gladstone Financial Corporation during the second quarter worth $304,000. Bowling Portfolio Management LLC purchased a new position in Peapack-Gladstone Financial Corporation during the second quarter worth $432,000. Rhumbline Advisers increased its position in Peapack-Gladstone Financial Corporation by 10.4% in the second quarter. Rhumbline Advisers now owns 19,153 shares of the financial services provider’s stock worth $599,000 after buying an additional 1,800 shares during the period. Finally, Bessemer Group Inc. increased its position in Peapack-Gladstone Financial Corporation by 36.4% in the second quarter. Bessemer Group Inc. now owns 26,600 shares of the financial services provider’s stock worth $832,000 after buying an additional 7,100 shares during the period. Institutional investors and hedge funds own 66.21% of the company’s stock.

Peapack-Gladstone Financial Corporation Company Profile

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.

Receive News & Ratings for Peapack-Gladstone Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peapack-Gladstone Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.