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

Peapack-Gladstone Financial (NASDAQ:PGC) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07, Zacks reports. Peapack-Gladstone Financial had a return on equity of 5.55% and a net margin of 8.12%.

Peapack-Gladstone Financial Stock Performance

NASDAQ PGC traded up $0.56 on Wednesday, reaching $33.28. The stock had a trading volume of 8,692 shares, compared to its average volume of 78,550. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $585.06 million, a P/E ratio of 18.39 and a beta of 1.00. The business’s 50-day moving average price is $33.66 and its 200 day moving average price is $30.41. Peapack-Gladstone Financial has a 12-month low of $20.30 and a 12-month high of $37.88.

Insider Transactions at Peapack-Gladstone Financial

In other news, EVP John P. Babcock sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $32.29, for a total transaction of $96,870.00. Following the completion of the sale, the executive vice president now owns 49,155 shares in the company, valued at $1,587,214.95. This represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 7.63% of the company’s stock.

Wall Street Analyst Weigh In

PGC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler raised Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $35.00 in a report on Wednesday, October 23rd.

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.