Peapack-Gladstone Financial Corporation (PGC) Rating Lowered to Hold at BidaskClub

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $38.50 target price on shares of Peapack-Gladstone Financial Corporation in a report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Peapack-Gladstone Financial Corporation currently has a consensus rating of “Buy” and an average price target of $32.17.

Peapack-Gladstone Financial Corporation (NASDAQ PGC) opened at $34.00 on Tuesday. Peapack-Gladstone Financial Corporation has a 12 month low of $21.33 and a 12 month high of $35.85. The firm has a market cap of $628.96, a price-to-earnings ratio of 18.17 and a beta of 1.02. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.30.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last released its quarterly earnings data on Friday, October 27th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. Peapack-Gladstone Financial Corporation had a net margin of 20.36% and a return on equity of 9.82%. The firm had revenue of $38.82 million for the quarter.

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Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in shares of Peapack-Gladstone Financial Corporation by 1.5% in the second quarter. Wells Fargo & Company MN now owns 11,323 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 168 shares during the last quarter. California Public Employees Retirement System increased its holdings in Peapack-Gladstone Financial Corporation by 3.0% during the second quarter. California Public Employees Retirement System now owns 34,765 shares of the financial services provider’s stock worth $1,088,000 after buying an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Peapack-Gladstone Financial Corporation by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 13,840 shares of the financial services provider’s stock worth $433,000 after buying an additional 1,076 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Peapack-Gladstone Financial Corporation by 1.7% during the second quarter. Russell Investments Group Ltd. now owns 65,047 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 1,094 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Peapack-Gladstone Financial Corporation by 10.4% during the second quarter. Rhumbline Advisers now owns 19,153 shares of the financial services provider’s stock worth $599,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 66.73% of the company’s stock.

Peapack-Gladstone Financial Corporation Company Profile

Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.

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