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

Peapack-Gladstone Financial (NASDAQ:PGC) released its quarterly earnings results on Tuesday. The financial services provider reported $0.43 EPS for the quarter, beating 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 Performance

PGC traded up $0.67 during trading hours on Wednesday, hitting $29.64. The stock had a trading volume of 2,171 shares, compared to its average volume of 93,064. Peapack-Gladstone Financial has a 1 year low of $20.30 and a 1 year high of $30.78. The company’s fifty day simple moving average is $27.43 and its 200 day simple moving average is $24.89. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a market cap of $524.04 million, a PE ratio of 15.49 and a beta of 0.99.

Insiders Place Their Bets

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $26.89, for a total value of $268,900.00. Following the completion of the transaction, the executive vice president now owns 52,155 shares in the company, valued at $1,402,447.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.