Peapack-Gladstone Financial Corporation (NASDAQ:PGC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also recently commented on PGC. ValuEngine upgraded shares of 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 note on Monday, July 17th. They issued an “outperform” rating and a $38.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $32.00.

Peapack-Gladstone Financial Corporation (NASDAQ PGC) traded down 1.50% during trading on Friday, reaching $29.51. 28,918 shares of the company’s stock traded hands. Peapack-Gladstone Financial Corporation has a 52-week low of $19.98 and a 52-week high of $33.68. The company’s 50 day moving average is $30.89 and its 200-day moving average is $30.86. The stock has a market cap of $513.56 million, a price-to-earnings ratio of 16.68 and a beta of 1.05.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last posted its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company had revenue of $35.14 million for the quarter. Peapack-Gladstone Financial Corporation had a net margin of 19.54% and a return on equity of 9.12%. On average, analysts anticipate that Peapack-Gladstone Financial Corporation will post $1.84 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its holdings in Peapack-Gladstone Financial Corporation by 288.3% in the 2nd quarter. Citigroup Inc. now owns 4,349 shares of the financial services provider’s stock worth $136,000 after buying an additional 3,229 shares in the last quarter. Voya Investment Management LLC bought a new stake in Peapack-Gladstone Financial Corporation in the 2nd quarter worth about $223,000. Marshall Wace North America L.P. bought a new stake in Peapack-Gladstone Financial Corporation in the 2nd quarter worth about $267,000. Dynamic Technology Lab Private Ltd bought a new stake in Peapack-Gladstone Financial Corporation in the 2nd quarter worth about $271,000. Finally, Trexquant Investment LP bought a new stake in Peapack-Gladstone Financial Corporation in the 2nd quarter worth about $304,000. Institutional investors own 67.86% 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.

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