Peapack-Gladstone Financial (NASDAQ:PGC) Price Target Raised to $41.00

Peapack-Gladstone Financial (NASDAQ:PGC) had its price target hoisted by Piper Sandler from $39.00 to $41.00 in a research report released on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

PGC has been the subject of several other research reports. Keefe, Bruyette & Woods raised their price objective on Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Peapack-Gladstone Financial Stock Performance

Shares of PGC opened at $36.21 on Thursday. The stock has a market capitalization of $636.21 million, a price-to-earnings ratio of 17.16 and a beta of 0.63. Peapack-Gladstone Financial has a 12 month low of $23.96 and a 12 month high of $36.28. The firm has a fifty day simple moving average of $33.83 and a 200 day simple moving average of $29.85. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly 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 firm had revenue of $77.67 million for the quarter. Research analysts forecast that Peapack-Gladstone Financial will post 2.71 EPS for the current fiscal year.

Insider Buying and Selling

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 value of $187,630.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Peapack-Gladstone Financial

A number of institutional investors and hedge funds have recently modified their holdings of PGC. State of Alaska Department of Revenue grew its holdings in Peapack-Gladstone Financial by 431.5% during the fourth quarter. State of Alaska Department of Revenue now owns 3,768 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 3,059 shares during the period. Aquatic Capital Management LLC raised its stake in Peapack-Gladstone Financial by 23.1% in the third 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 during the period. CWM LLC raised its stake in Peapack-Gladstone Financial by 622.5% in the third quarter. CWM LLC now owns 6,596 shares of the financial services provider’s stock valued at $182,000 after buying an additional 5,683 shares during the period. Quantbot Technologies LP lifted its position in shares of Peapack-Gladstone Financial by 68.0% in the third 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 during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Peapack-Gladstone Financial in the fourth quarter valued at approximately $206,000. 72.75% of the stock is owned by institutional investors.

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.