Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.00.

A number of equities research analysts recently weighed in on PGC shares. Keefe, Bruyette & Woods raised their price target on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Piper Sandler lifted their target price on Peapack-Gladstone Financial from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research note on Thursday, January 22nd.

Insider Transactions at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP Maureen Hemhauser sold 5,272 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $35.59, for a total transaction of $187,630.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.95% of the stock is owned by corporate insiders.

Institutional Trading of Peapack-Gladstone Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mendon Capital Advisors Corp boosted its holdings in shares of Peapack-Gladstone Financial by 63.4% during the fourth quarter. Mendon Capital Advisors Corp now owns 39,677 shares of the financial services provider’s stock valued at $1,105,000 after acquiring an additional 15,400 shares during the period. Empowered Funds LLC raised its position in Peapack-Gladstone Financial by 4.5% during the fourth quarter. Empowered Funds LLC now owns 68,759 shares of the financial services provider’s stock valued at $1,915,000 after buying an additional 2,988 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Peapack-Gladstone Financial in the 4th quarter valued at about $283,000. Polymer Capital Management US LLC purchased a new stake in Peapack-Gladstone Financial in the 4th quarter worth approximately $390,000. Finally, Occudo Quantitative Strategies LP raised its holdings in shares of Peapack-Gladstone Financial by 23.3% during the fourth quarter. Occudo Quantitative Strategies LP now owns 13,864 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 2,617 shares in the last quarter. 72.75% of the stock is owned by institutional investors and hedge funds.

Peapack-Gladstone Financial Price Performance

PGC stock opened at $34.58 on Monday. The firm has a market cap of $607.22 million, a P/E ratio of 16.39 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. Peapack-Gladstone Financial has a 1 year low of $23.96 and a 1 year high of $35.68. The stock has a 50-day simple moving average of $30.63 and a 200-day simple moving average of $28.54.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.69 earnings per share for the quarter. The firm had revenue of $77.67 million during the quarter. Peapack-Gladstone Financial had a return on equity of 5.91% and a net margin of 8.40%. On average, equities analysts predict that Peapack-Gladstone Financial will post 2.71 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, February 12th. Peapack-Gladstone Financial’s payout ratio is 9.48%.

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.