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 Keefe, Bruyette & Woods from $38.00 to $44.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 22.67% from the company’s current price.

Separately, Piper Sandler upgraded shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $30.00 to $35.00 in a report on Wednesday, October 23rd.

Peapack-Gladstone Financial Stock Down 0.1 %

Shares of NASDAQ PGC traded down $0.02 during mid-day trading on Wednesday, reaching $35.87. 24,205 shares of the company’s stock traded hands, compared to its average volume of 97,219. The stock has a market cap of $630.59 million, a P/E ratio of 19.82 and a beta of 0.98. The business has a 50-day simple moving average of $32.28 and a 200 day simple moving average of $27.38. Peapack-Gladstone Financial has a 1-year low of $20.30 and a 1-year high of $37.88. 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 (NASDAQ:PGC) last issued 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. The firm had revenue of $102.14 million during the quarter, compared to analysts’ expectations of $58.24 million. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.55%. On average, analysts expect that Peapack-Gladstone Financial will post 1.82 EPS 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 business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $32.29, for a total value of $96,870.00. Following the transaction, the executive vice president now directly owns 49,155 shares in the company, valued at $1,587,214.95. The trade was a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.18% of the company’s stock.

Institutional Trading of Peapack-Gladstone Financial

Several hedge funds and other institutional investors have recently modified their holdings of PGC. Jane Street Group LLC increased its holdings in Peapack-Gladstone Financial by 1.6% during the 3rd quarter. Jane Street Group LLC now owns 23,998 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 387 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Peapack-Gladstone Financial by 5.8% during 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 worth $75,000 after acquiring an additional 1,350 shares during the period. Point72 Asset Management L.P. increased its holdings in Peapack-Gladstone Financial by 157.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,468 shares during the period. Finally, Empowered Funds LLC increased its holdings in Peapack-Gladstone Financial by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 48,710 shares of the financial services provider’s stock worth $1,335,000 after acquiring an additional 2,412 shares during the period. Institutional investors own 72.75% of the company’s stock.

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.