Peapack-Gladstone Financial Corporation (PGC) Earns “Buy” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their buy rating on shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) in a research note issued to investors on Thursday. The brokerage currently has a $38.50 price target on the financial services provider’s stock.

Separately, BidaskClub downgraded shares of Peapack-Gladstone Financial Corporation from a hold rating to a sell rating in a research note on Friday, September 8th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Peapack-Gladstone Financial Corporation has a consensus rating of Buy and an average price target of $32.17.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) traded up 3.51% during midday trading on Thursday, reaching $35.65. 61,045 shares of the company were exchanged. The firm has a 50-day moving average price of $33.37 and a 200-day moving average price of $31.64. The company has a market capitalization of $620.42 million, a PE ratio of 20.15 and a beta of 1.04. Peapack-Gladstone Financial Corporation has a 52 week low of $20.83 and a 52 week high of $35.72.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last issued its quarterly earnings results on Friday, October 27th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. Peapack-Gladstone Financial Corporation had a net margin of 19.54% and a return on equity of 9.12%. The company had revenue of $38.82 million during the quarter. Equities research analysts anticipate that Peapack-Gladstone Financial Corporation will post $1.84 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. Citigroup Inc. lifted its stake in Peapack-Gladstone Financial Corporation by 288.3% in the second quarter. Citigroup Inc. now owns 4,349 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 3,229 shares during the last quarter. Voya Investment Management LLC purchased a new position in Peapack-Gladstone Financial Corporation in the second quarter worth approximately $223,000. CAPROCK Group Inc. purchased a new position in Peapack-Gladstone Financial Corporation in the third quarter worth approximately $236,000. Marshall Wace North America L.P. purchased a new position in Peapack-Gladstone Financial Corporation in the second quarter worth approximately $267,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Peapack-Gladstone Financial Corporation in the second quarter worth approximately $271,000. Institutional investors own 67.94% of the company’s stock.

Peapack-Gladstone Financial Corporation Company Profile

Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.

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