Peapack-Gladstone Financial (NASDAQ:PGC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.
According to Zacks, “The Peapack-Gladstone Financial Corporation is a bank holding company for Peapack-Gladstone Bank. The Bank is primarily dedicated to providing quality, personalized financial, trust and investment services to individuals and small businesses. “
Several other research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $36.00 price objective on shares of Peapack-Gladstone Financial in a report on Wednesday. BidaskClub cut shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a report on Friday, July 13th. ValuEngine cut shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, FIG Partners reiterated an “outperform” rating on shares of Peapack-Gladstone Financial in a report on Tuesday, July 24th. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Peapack-Gladstone Financial presently has an average rating of “Hold” and an average target price of $37.50.
NASDAQ PGC opened at $27.67 on Friday. Peapack-Gladstone Financial has a 52 week low of $25.82 and a 52 week high of $38.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $526.03 million, a price-to-earnings ratio of 14.26 and a beta of 0.97.
Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Friday, October 26th. The financial services provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.03). Peapack-Gladstone Financial had a return on equity of 10.02% and a net margin of 22.25%. The firm had revenue of $39.13 million during the quarter, compared to the consensus estimate of $42.08 million. As a group, equities analysts expect that Peapack-Gladstone Financial will post 2.37 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new position in shares of Peapack-Gladstone Financial in the second quarter valued at approximately $293,000. Virginia Retirement Systems ET AL bought a new position in shares of Peapack-Gladstone Financial in the second quarter valued at approximately $356,000. Alps Advisors Inc. lifted its stake in Peapack-Gladstone Financial by 16.8% during the third quarter. Alps Advisors Inc. now owns 15,396 shares of the financial services provider’s stock valued at $476,000 after purchasing an additional 2,220 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Peapack-Gladstone Financial by 66.9% during the first quarter. JPMorgan Chase & Co. now owns 16,350 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 6,556 shares during the last quarter. Finally, Strs Ohio lifted its stake in Peapack-Gladstone Financial by 8.6% during the second quarter. Strs Ohio now owns 23,900 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 71.96% of the company’s stock.
Peapack-Gladstone Financial Company Profile
Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.
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