Peapack-Gladstone Financial (NASDAQ:PGC) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Peapack-Gladstone Financial (NASDAQ:PGC) posted its earnings results on Tuesday. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07, Zacks reports. Peapack-Gladstone Financial had a return on equity of 5.55% and a net margin of 8.12%.

Peapack-Gladstone Financial Stock Performance

NASDAQ PGC opened at $33.13 on Wednesday. Peapack-Gladstone Financial has a fifty-two week low of $20.30 and a fifty-two week high of $37.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50 day moving average price is $33.66 and its 200-day moving average price is $30.41. The company has a market cap of $582.43 million, a P/E ratio of 18.30 and a beta of 1.00.

Analysts Set New Price Targets

A number of research firms recently weighed in on PGC. Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and raised their target price for the company from $30.00 to $35.00 in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $32.29, for a total value of $96,870.00. Following the sale, the executive vice president now owns 49,155 shares of the company’s stock, valued at approximately $1,587,214.95. The trade was a 5.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.63% of the stock is currently owned by insiders.

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.