Piper Sandler Downgrades Peapack-Gladstone Financial (NASDAQ:PGC) to Neutral

Peapack-Gladstone Financial (NASDAQ:PGC) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat reports.

Several other brokerages have also recently commented on PGC. Keefe, Bruyette & Woods reduced their target price on shares of Peapack-Gladstone Financial from $33.50 to $30.50 and set an “outperform” rating for the company in a report on Friday, April 5th. TheStreet cut shares of Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a report on Friday, February 23rd.

Peapack-Gladstone Financial Stock Up 0.2 %

Peapack-Gladstone Financial stock opened at $22.92 on Wednesday. The stock has a market capitalization of $406.88 million, a PE ratio of 10.51 and a beta of 0.99. Peapack-Gladstone Financial has a twelve month low of $21.58 and a twelve month high of $31.49. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $23.66 and a 200-day moving average of $25.56.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). Peapack-Gladstone Financial had a net margin of 10.11% and a return on equity of 7.27%. The company had revenue of $54.27 million during the quarter, compared to analyst estimates of $54.91 million. On average, equities research analysts anticipate that Peapack-Gladstone Financial will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP Gregory Martin Smith sold 4,500 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $30.02, for a total value of $135,090.00. Following the completion of the sale, the executive vice president now owns 15,703 shares in the company, valued at $471,404.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.63% of the company’s stock.

Institutional Trading of Peapack-Gladstone Financial

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Peapack-Gladstone Financial in the third quarter valued at $25,000. Quest Partners LLC bought a new position in shares of Peapack-Gladstone Financial in the fourth quarter valued at about $77,000. Denali Advisors LLC bought a new position in shares of Peapack-Gladstone Financial in the first quarter valued at about $204,000. SG Americas Securities LLC raised its position in shares of Peapack-Gladstone Financial by 133.8% in the third quarter. SG Americas Securities LLC now owns 8,790 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 5,031 shares during the period. Finally, Trexquant Investment LP raised its position in shares of Peapack-Gladstone Financial by 9.6% in the third quarter. Trexquant Investment LP now owns 13,975 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 1,222 shares during the period. Institutional investors and hedge funds own 72.75% 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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.