Peapack-Gladstone Financial (NASDAQ:PGC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Peapack-Gladstone Financial (NASDAQ:PGC) had its price target upped by analysts at Keefe, Bruyette & Woods from $35.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 19.76% from the company’s current price.

Several other research firms have also issued reports on PGC. Zacks Research raised Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a report on Thursday, January 22nd. Finally, Piper Sandler lifted their price objective on shares of Peapack-Gladstone Financial from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Peapack-Gladstone Financial Stock Performance

Shares of NASDAQ:PGC opened at $33.40 on Monday. The firm has a fifty day simple moving average of $28.95 and a two-hundred day simple moving average of $27.77. Peapack-Gladstone Financial has a 52 week low of $23.96 and a 52 week high of $35.41. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $586.50 million, a P/E ratio of 17.22 and a beta of 0.73.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $77.67 million for the quarter, compared to analysts’ expectations of $73.69 million. Peapack-Gladstone Financial had a net margin of 7.91% and a return on equity of 5.51%. On average, analysts expect that Peapack-Gladstone Financial will post 2.71 earnings per share for the current fiscal year.

Institutional Trading of Peapack-Gladstone Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of PGC. CWM LLC boosted its stake in shares of Peapack-Gladstone Financial by 338.9% during the second quarter. CWM LLC now owns 913 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 705 shares during the period. State of Alaska Department of Revenue increased its stake in Peapack-Gladstone Financial by 431.5% in the 4th quarter. State of Alaska Department of Revenue now owns 3,768 shares of the financial services provider’s stock worth $104,000 after buying an additional 3,059 shares during the period. Aquatic Capital Management LLC lifted its holdings in Peapack-Gladstone Financial by 23.1% during the 3rd quarter. Aquatic Capital Management LLC now owns 5,240 shares of the financial services provider’s stock valued at $145,000 after buying an additional 985 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Peapack-Gladstone Financial by 68.0% during the 3rd quarter. Quantbot Technologies LP now owns 7,381 shares of the financial services provider’s stock valued at $204,000 after buying an additional 2,987 shares in the last quarter. Finally, Inscription Capital LLC purchased a new stake in Peapack-Gladstone Financial in the 4th quarter valued at about $210,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.