Peapack-Gladstone Financial Co. Common Stock (PGC) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Peapack-Gladstone Financial Co. Common Stock (NASDAQ:PGC) from a hold rating to a sell rating in a report published on Wednesday morning.

Shares of PGC stock opened at $34.55 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. Peapack-Gladstone Financial Co. Common Stock has a 1 year low of $29.21 and a 1 year high of $38.00. The firm has a market capitalization of $661.58 million, a price-to-earnings ratio of 17.05 and a beta of 1.00.

Peapack-Gladstone Financial Co. Common Stock (NASDAQ:PGC) last issued its quarterly earnings results on Friday, April 27th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Peapack-Gladstone Financial Co. Common Stock had a net margin of 21.58% and a return on equity of 9.65%. The firm had revenue of $38.61 million for the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 22nd. Stockholders of record on Tuesday, May 8th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, May 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.58%.

Institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial For Lutherans acquired a new position in shares of Peapack-Gladstone Financial Co. Common Stock during the 4th quarter worth about $1,462,000. BlackRock Inc. increased its stake in shares of Peapack-Gladstone Financial Co. Common Stock by 2.0% during the 4th quarter. BlackRock Inc. now owns 1,066,794 shares of the financial services provider’s stock worth $37,359,000 after purchasing an additional 20,968 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Peapack-Gladstone Financial Co. Common Stock during the 4th quarter worth about $291,000. Goldman Sachs Group Inc. boosted its holdings in shares of Peapack-Gladstone Financial Co. Common Stock by 10.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 85,536 shares of the financial services provider’s stock worth $2,995,000 after buying an additional 7,886 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Peapack-Gladstone Financial Co. Common Stock by 95.8% during the 4th quarter. KBC Group NV now owns 5,483 shares of the financial services provider’s stock worth $192,000 after buying an additional 2,683 shares during the period. Institutional investors own 71.96% of the company’s stock.

About Peapack-Gladstone Financial Co. Common Stock

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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