Peapack-Gladstone Financial (NASDAQ:PGC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Peapack-Gladstone Financial (NASDAQ:PGC) had its target price boosted by investment analysts at Keefe, Bruyette & Woods from $38.00 to $44.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 22.67% from the stock’s current price.

Separately, Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $30.00 to $35.00 in a research note on Wednesday, October 23rd.

Peapack-Gladstone Financial Price Performance

PGC stock traded down $0.02 during midday trading on Wednesday, reaching $35.87. The company had a trading volume of 24,205 shares, compared to its average volume of 97,219. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. Peapack-Gladstone Financial has a 1 year low of $20.30 and a 1 year high of $37.88. The company has a market capitalization of $630.59 million, a P/E ratio of 19.82 and a beta of 0.98. The firm has a 50-day moving average price of $32.28 and a 200-day moving average price of $27.38.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.55%. The company had revenue of $102.14 million during the quarter, compared to analysts’ expectations of $58.24 million. On average, research analysts anticipate that Peapack-Gladstone Financial will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $32.29, for a total value of $96,870.00. Following the completion of the transaction, the executive vice president now directly owns 49,155 shares in the company, valued at approximately $1,587,214.95. This represents a 5.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Peapack-Gladstone Financial by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 903,093 shares of the financial services provider’s stock worth $21,972,000 after acquiring an additional 9,991 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Peapack-Gladstone Financial by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,423 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 628 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Peapack-Gladstone Financial by 68.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,324 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 1,350 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Peapack-Gladstone Financial during the 2nd quarter valued at about $1,444,000. Finally, Quest Partners LLC increased its stake in Peapack-Gladstone Financial by 150.0% during the 2nd quarter. Quest Partners LLC now owns 15,745 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 9,446 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors.

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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.