Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) have earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $35.3333.

A number of equities analysts recently commented on PGC shares. Piper Sandler upped their target price on Peapack-Gladstone Financial from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a report on Thursday, January 22nd. Finally, Zacks Research upgraded Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th.

Peapack-Gladstone Financial Stock Down 0.6%

Shares of Peapack-Gladstone Financial stock opened at $29.23 on Thursday. The stock has a market capitalization of $513.28 million, a price-to-earnings ratio of 15.07 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The company’s 50 day moving average price is $28.47 and its 200-day moving average price is $27.72. Peapack-Gladstone Financial has a 52-week low of $23.96 and a 52-week high of $35.41.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter. The firm had revenue of $70.93 million for the quarter. Peapack-Gladstone Financial had a net margin of 7.91% and a return on equity of 5.51%. Equities research analysts forecast that Peapack-Gladstone Financial will post 2.71 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Peapack-Gladstone Financial by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 390 shares during the period. Rafferty Asset Management LLC raised its position in shares of Peapack-Gladstone Financial by 3.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 16,405 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 526 shares during the last quarter. CWM LLC boosted its stake in Peapack-Gladstone Financial by 338.9% in the 2nd quarter. CWM LLC now owns 913 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 705 shares in the last quarter. First Trust Advisors LP grew its position in Peapack-Gladstone Financial by 7.2% during the 2nd quarter. First Trust Advisors LP now owns 11,361 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 763 shares during the last quarter. Finally, Aquatic Capital Management LLC increased its stake 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 purchasing an additional 985 shares in the last quarter. 72.75% of the stock is owned by hedge funds and other institutional investors.

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.