Peapack-Gladstone Financial (NASDAQ:PGC) Releases Earnings Results, Beats Estimates By $0.06 EPS

Peapack-Gladstone Financial (NASDAQ:PGC) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06, Yahoo Finance reports. Peapack-Gladstone Financial had a return on equity of 5.91% and a net margin of 8.50%.

Peapack-Gladstone Financial Stock Up 2.3 %

Shares of NASDAQ PGC traded up $0.67 during mid-day trading on Wednesday, hitting $29.64. 2,171 shares of the stock traded hands, compared to its average volume of 93,064. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. Peapack-Gladstone Financial has a 52 week low of $20.30 and a 52 week high of $30.78. The company has a market cap of $524.04 million, a price-to-earnings ratio of 15.49 and a beta of 0.99. The stock has a fifty day moving average price of $27.43 and a 200-day moving average price of $24.89.

Insider Activity at Peapack-Gladstone Financial

In related news, EVP John P. Babcock sold 10,000 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $26.89, for a total transaction of $268,900.00. Following the sale, the executive vice president now directly owns 52,155 shares in the company, valued at $1,402,447.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.63% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $32.00 price target (up from $28.00) on shares of Peapack-Gladstone Financial in a research note on Monday, July 29th.

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.