Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Receives $39.33 Consensus Target Price from Brokerages

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) has received a consensus rating of “Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $39.3333.

PGC has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Thursday, January 22nd. Piper Sandler started coverage on Peapack-Gladstone Financial in a research note on Monday, March 16th. They set an “overweight” rating and a $39.00 price target for the company. Finally, Keefe, Bruyette & Woods lifted their price target on Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, February 2nd.

Insider Buying and Selling

In related news, EVP Maureen Hemhauser sold 5,272 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $35.59, for a total transaction of $187,630.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.75% of the company’s stock.

Institutional Investors Weigh In On Peapack-Gladstone Financial

A number of large investors have recently bought and sold shares of PGC. Wellington Management Group LLP increased its position in Peapack-Gladstone Financial by 67.0% during the third quarter. Wellington Management Group LLP now owns 1,138,723 shares of the financial services provider’s stock worth $31,429,000 after buying an additional 456,828 shares during the last quarter. Vanguard Group Inc. boosted its position in Peapack-Gladstone Financial by 3.0% during the third quarter. Vanguard Group Inc. now owns 974,523 shares of the financial services provider’s stock worth $26,897,000 after purchasing an additional 28,489 shares during the period. State Street Corp boosted its position in Peapack-Gladstone Financial by 6.2% during the fourth quarter. State Street Corp now owns 549,447 shares of the financial services provider’s stock worth $15,302,000 after purchasing an additional 31,917 shares during the period. Geode Capital Management LLC grew its holdings in Peapack-Gladstone Financial by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 452,521 shares of the financial services provider’s stock valued at $12,605,000 after purchasing an additional 5,260 shares during the last quarter. Finally, Salzhauer Michael grew its holdings in Peapack-Gladstone Financial by 5.7% during the fourth quarter. Salzhauer Michael now owns 269,242 shares of the financial services provider’s stock valued at $7,498,000 after purchasing an additional 14,612 shares during the last quarter. 72.75% of the stock is currently owned by institutional investors.

Peapack-Gladstone Financial Stock Up 1.3%

Peapack-Gladstone Financial stock opened at $34.98 on Friday. Peapack-Gladstone Financial has a twelve month low of $23.96 and a twelve month high of $35.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $614.60 million, a PE ratio of 16.58 and a beta of 0.70. The firm’s 50 day moving average price is $32.92 and its two-hundred day moving average price is $29.51.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Thursday, January 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. Peapack-Gladstone Financial had a net margin of 8.40% and a return on equity of 5.85%. The company had revenue of $77.67 million during the quarter. On average, research analysts predict that Peapack-Gladstone Financial will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Company Profile

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.