Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) have been given an average recommendation of “Hold” by the six brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $36.50.
A number of equities analysts have issued reports on PGC shares. BidaskClub raised Peapack-Gladstone Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 25th. FIG Partners lowered Peapack-Gladstone Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, January 28th. Gabelli started coverage on Peapack-Gladstone Financial in a research report on Monday, February 11th. They issued a “buy” rating and a $37.00 target price on the stock. Finally, Zacks Investment Research raised Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th.
NASDAQ PGC opened at $27.47 on Friday. The company has a market capitalization of $526.11 million, a price-to-earnings ratio of 11.82, a P/E/G ratio of 2.21 and a beta of 1.05. Peapack-Gladstone Financial has a fifty-two week low of $23.96 and a fifty-two week high of $36.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.04 and a quick ratio of 1.04.
Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings results on Friday, January 25th. The financial services provider reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). The company had revenue of $40.64 million during the quarter, compared to analysts’ expectations of $41.58 million. Peapack-Gladstone Financial had a return on equity of 9.91% and a net margin of 21.67%. As a group, sell-side analysts forecast that Peapack-Gladstone Financial will post 2.37 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY raised its position in shares of Peapack-Gladstone Financial by 337.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,590 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 4,312 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Peapack-Gladstone Financial during the 3rd quarter valued at approximately $208,000. Citigroup Inc. raised its position in shares of Peapack-Gladstone Financial by 57.4% during the 4th quarter. Citigroup Inc. now owns 9,629 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 3,512 shares in the last quarter. Virginia Retirement Systems ET AL raised its position in shares of Peapack-Gladstone Financial by 5.5% during the 4th quarter. Virginia Retirement Systems ET AL now owns 11,600 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 600 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its position in shares of Peapack-Gladstone Financial by 51.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 12,623 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 4,312 shares in the last quarter. 72.06% of the stock is currently owned by institutional investors and hedge funds.
About Peapack-Gladstone Financial
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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