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

Peapack-Gladstone Financial (NASDAQ:PGC) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.52 earnings per share 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 Trading Up 1.3 %

PGC traded up $0.43 during trading on Wednesday, hitting $33.15. The company’s stock had a trading volume of 6,404 shares, compared to its average volume of 78,220. The firm has a market capitalization of $582.69 million, a P/E ratio of 18.34 and a beta of 1.00. Peapack-Gladstone Financial has a twelve month low of $20.30 and a twelve month high of $37.88. The stock’s fifty day moving average price is $33.66 and its 200-day moving average price is $30.41. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Insider Activity

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $35.00 in a research note 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.