Peapack-Gladstone Financial (PGC) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Peapack-Gladstone Financial (NASDAQ:PGC) from a sell rating to a hold rating in a research report report published on Saturday, BidAskClub reports.

PGC has been the subject of several other reports. Zacks Investment Research downgraded shares of Peapack-Gladstone Financial from a hold rating to a sell rating in a research report on Wednesday, January 30th. Gabelli assumed coverage on shares of Peapack-Gladstone Financial in a report on Monday, February 11th. They set a buy rating and a $37.00 price target on the stock. Finally, FIG Partners cut shares of Peapack-Gladstone Financial from an outperform rating to a market perform rating in a report on Monday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Peapack-Gladstone Financial presently has a consensus rating of Hold and a consensus target price of $36.50.

NASDAQ:PGC opened at $27.19 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.41. The stock has a market cap of $527.27 million, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. Peapack-Gladstone Financial has a one year low of $23.96 and a one year high of $36.88.



Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Friday, January 25th. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $40.64 million for the quarter, compared to the consensus estimate of $41.58 million. Peapack-Gladstone Financial had a return on equity of 9.91% and a net margin of 21.67%. On average, equities analysts predict that Peapack-Gladstone Financial will post 2.37 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in PGC. Boston Partners boosted its stake in Peapack-Gladstone Financial by 46.0% in the fourth quarter. Boston Partners now owns 803,065 shares of the financial services provider’s stock valued at $20,221,000 after acquiring an additional 253,125 shares during the last quarter. Basswood Capital Management L.L.C. grew its position in shares of Peapack-Gladstone Financial by 13.0% during the 4th quarter. Basswood Capital Management L.L.C. now owns 1,057,398 shares of the financial services provider’s stock valued at $26,625,000 after acquiring an additional 121,916 shares during the period. Seidman Lawrence B bought a new position in shares of Peapack-Gladstone Financial during the 4th quarter valued at approximately $2,518,000. Dimensional Fund Advisors LP grew its position in shares of Peapack-Gladstone Financial by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,126,448 shares of the financial services provider’s stock valued at $28,364,000 after acquiring an additional 83,659 shares during the period. Finally, Brown Advisory Inc. bought a new position in shares of Peapack-Gladstone Financial during the 4th quarter valued at approximately $1,763,000. Institutional investors and hedge funds own 72.06% of the company’s stock.

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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