Equities analysts predict that Peapack-Gladstone Financial Co. (NASDAQ:PGC) will report $51.67 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Peapack-Gladstone Financial’s earnings, with estimates ranging from $50.84 million to $52.50 million. Peapack-Gladstone Financial posted sales of $52.36 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.3%. The company is scheduled to announce its next earnings report on Wednesday, October 27th.
According to Zacks, analysts expect that Peapack-Gladstone Financial will report full year sales of $205.36 million for the current year, with estimates ranging from $203.31 million to $207.40 million. For the next financial year, analysts anticipate that the firm will report sales of $211.82 million, with estimates ranging from $208.14 million to $215.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Peapack-Gladstone Financial.
Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Tuesday, July 27th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.11. Peapack-Gladstone Financial had a return on equity of 8.37% and a net margin of 19.48%. The firm had revenue of $51.52 million for the quarter, compared to analyst estimates of $49.27 million.
PGC opened at $33.13 on Thursday. The stock has a 50-day moving average price of $33.05 and a 200-day moving average price of $32.27. Peapack-Gladstone Financial has a 12-month low of $15.67 and a 12-month high of $34.67. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $623.84 million, a P/E ratio of 14.53 and a beta of 1.35.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 24th. Stockholders of record on Tuesday, August 10th were paid a $0.05 dividend. The ex-dividend date was Monday, August 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.60%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 14.60%.
In other news, Director Peter D. Horst acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, September 21st. The stock was purchased at an average price of $31.88 per share, for a total transaction of $79,700.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $33.52, for a total value of $167,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,303 shares of company stock worth $1,197,799. 5.49% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in shares of Peapack-Gladstone Financial by 24.7% during the second quarter. Legal & General Group Plc now owns 2,298 shares of the financial services provider’s stock valued at $71,000 after buying an additional 455 shares during the period. Morgan Stanley raised its stake in shares of Peapack-Gladstone Financial by 60.4% during the second quarter. Morgan Stanley now owns 4,680 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 1,762 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in shares of Peapack-Gladstone Financial by 93,066.7% during the second quarter. Metropolitan Life Insurance Co NY now owns 5,590 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 5,584 shares in the last quarter. Royal Bank of Canada raised its stake in Peapack-Gladstone Financial by 13.4% in the first quarter. Royal Bank of Canada now owns 6,639 shares of the financial services provider’s stock worth $205,000 after buying an additional 782 shares in the last quarter. Finally, Parametric Portfolio Associates LLC bought a new position in Peapack-Gladstone Financial in the second quarter worth approximately $214,000. Institutional investors own 70.39% of the company’s stock.
Peapack-Gladstone Financial Company Profile
Peapack-Gladstone Financial Corp. is a bank holding company, which engages in the provision of private banking services to businesses, non-profits and consumer. It operates through the following segments: Banking and Peapack Private. The Banking segment provides commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services; and customer support and sales.
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