Keefe, Bruyette & Woods Cuts Peapack-Gladstone Financial (NASDAQ:PGC) Price Target to $30.50

Peapack-Gladstone Financial (NASDAQ:PGC - Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $33.50 to $30.50 in a research report report published on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider's stock.

Separately, TheStreet downgraded shares of Peapack-Gladstone Financial from a b- rating to a c+ rating in a report on Friday, February 23rd.

Peapack-Gladstone Financial Trading Down 0.9 %

Shares of NASDAQ:PGC traded down $0.21 on Friday, hitting $23.54. 64,318 shares of the company's stock were exchanged, compared to its average volume of 80,878. Peapack-Gladstone Financial has a 12 month low of $21.58 and a 12 month high of $31.49. The stock has a market capitalization of $417.84 million, a price-to-earnings ratio of 8.69 and a beta of 0.99. The business's 50 day simple moving average is $24.25 and its two-hundred day simple moving average is $25.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). The firm had revenue of $54.27 million during the quarter, compared to the consensus estimate of $54.91 million. Peapack-Gladstone Financial had a net margin of 12.94% and a return on equity of 9.03%. Analysts anticipate that Peapack-Gladstone Financial will post 2.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Gregory Martin Smith sold 4,500 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $30.02, for a total value of $135,090.00. Following the transaction, the executive vice president now owns 15,703 shares in the company, valued at approximately $471,404.06. The sale was disclosed in a filing with the SEC, which is available through this link. 7.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Hedge funds have recently bought and sold shares of the stock. North Reef Capital Management LP lifted its position in shares of Peapack-Gladstone Financial by 77.1% during the 3rd quarter. North Reef Capital Management LP now owns 500,000 shares of the financial services provider's stock valued at $12,825,000 after buying an additional 217,646 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of Peapack-Gladstone Financial by 31.3% during the 3rd quarter. Kennedy Capital Management LLC now owns 299,024 shares of the financial services provider's stock valued at $7,670,000 after buying an additional 71,252 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Peapack-Gladstone Financial by 22.6% during the 3rd quarter. Wellington Management Group LLP now owns 540,095 shares of the financial services provider's stock valued at $13,853,000 after buying an additional 99,700 shares in the last quarter. Swiss National Bank lifted its position in shares of Peapack-Gladstone Financial by 2.6% during the 3rd quarter. Swiss National Bank now owns 35,700 shares of the financial services provider's stock valued at $916,000 after buying an additional 900 shares in the last quarter. Finally, Trexquant Investment LP lifted its position in shares of Peapack-Gladstone Financial by 9.6% during the 3rd quarter. Trexquant Investment LP now owns 13,975 shares of the financial services provider's stock valued at $358,000 after buying an additional 1,222 shares in the last quarter. Hedge funds and other 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.