Peapack-Gladstone Financial Corporation (PGC) Announces Earnings Results, Beats Expectations By $0.11 EPS
Peapack-Gladstone Financial Corporation (NASDAQ:PGC) issued its quarterly earnings results on Friday. The financial services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11, Bloomberg Earnings reports. Peapack-Gladstone Financial Corporation had a return on equity of 9.12% and a net margin of 19.54%.
Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) traded up 3.51% during mid-day trading on Friday, reaching $35.65. The company’s stock had a trading volume of 61,045 shares. The firm has a market cap of $620.42 million, a P/E ratio of 20.15 and a beta of 1.04. Peapack-Gladstone Financial Corporation has a 12-month low of $20.83 and a 12-month high of $35.72. The firm’s 50-day moving average price is $33.07 and its 200 day moving average price is $31.57.
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A number of brokerages have commented on PGC. BidaskClub cut Peapack-Gladstone Financial Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $38.50 price target on shares of Peapack-Gladstone Financial Corporation in a research report on Thursday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $32.17.
About Peapack-Gladstone Financial Corporation
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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