Janney Montgomery Scott upgraded shares of Peapack-Gladstone Financial (NASDAQ:PGC) from a neutral rating to a buy rating in a research note released on Tuesday, Benzinga reports.
A number of other research analysts also recently weighed in on PGC. BidaskClub upgraded Peapack-Gladstone Financial from a strong sell rating to a sell rating in a report on Tuesday, February 4th. Zacks Investment Research raised Peapack-Gladstone Financial from a hold rating to a buy rating and set a $33.00 price objective for the company in a research report on Tuesday, February 4th. DA Davidson raised Peapack-Gladstone Financial from a neutral rating to a buy rating and set a $33.50 price objective for the company in a research report on Thursday, January 30th. Finally, ValuEngine cut Peapack-Gladstone Financial from a hold rating to a sell rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Peapack-Gladstone Financial currently has a consensus rating of Hold and an average target price of $33.25.
Shares of PGC stock opened at $31.35 on Tuesday. Peapack-Gladstone Financial has a 1-year low of $24.95 and a 1-year high of $31.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $598.58 million, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.88 and a beta of 1.00. The stock’s fifty day simple moving average is $30.19 and its 200-day simple moving average is $29.14.
Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Peapack-Gladstone Financial had a return on equity of 9.68% and a net margin of 20.15%. The business had revenue of $46.44 million for the quarter, compared to the consensus estimate of $46.36 million. On average, sell-side analysts predict that Peapack-Gladstone Financial will post 2.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 11th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. Peapack-Gladstone Financial’s payout ratio is 8.20%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGC. Aigen Investment Management LP acquired a new stake in shares of Peapack-Gladstone Financial in the fourth quarter worth about $43,000. Tower Research Capital LLC TRC acquired a new stake in shares of Peapack-Gladstone Financial in the third quarter worth about $47,000. Great West Life Assurance Co. Can lifted its position in shares of Peapack-Gladstone Financial by 77.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 1,578 shares of the financial services provider’s stock worth $48,000 after buying an additional 688 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Peapack-Gladstone Financial in the fourth quarter worth about $53,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Peapack-Gladstone Financial in the fourth quarter worth about $79,000. 71.10% of the stock is owned by hedge funds and other 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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.
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