Peapack-Gladstone Financial (NASDAQ:PGC) Announces Quarterly Earnings Results

Peapack-Gladstone Financial (NASDAQ:PGC) posted its earnings results on Tuesday. The financial services provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42, Zacks reports. The firm had revenue of $100.79 million for the quarter, compared to the consensus estimate of $56.80 million. Peapack-Gladstone Financial had a net margin of 10.11% and a return on equity of 7.23%.

Peapack-Gladstone Financial Stock Performance

PGC traded down $0.43 on Wednesday, hitting $27.18. 111,583 shares of the stock traded hands, compared to its average volume of 101,846. Peapack-Gladstone Financial has a 52 week low of $20.30 and a 52 week high of $31.49. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $482.99 million, a PE ratio of 12.67 and a beta of 0.99. The business has a fifty day moving average price of $22.65 and a two-hundred day moving average price of $23.94.

Insider Activity at Peapack-Gladstone Financial

In related news, EVP Stuart M. Vorcheimer sold 4,608 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $24.09, for a total transaction of $111,006.72. Following the transaction, the executive vice president now directly owns 2,205 shares in the company, valued at $53,118.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.63% of the company’s stock.

Wall Street Analyst Weigh In

PGC has been the topic of several analyst reports. Piper Sandler downgraded shares of Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods lowered their price target on Peapack-Gladstone Financial from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th.

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.