Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Receives Average Rating of "Buy" from Brokerages

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Get Free Report) have earned an average rating of "Buy" from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $49.6667.

Several equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Peapack-Gladstone Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, May 12th. Wall Street Zen cut shares of Peapack-Gladstone Financial from a "buy" rating to a "hold" rating in a research note on Sunday. Piper Sandler raised their price target on shares of Peapack-Gladstone Financial from $50.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Zacks Research upgraded shares of Peapack-Gladstone Financial from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 26th. Finally, Raymond James Financial upped their price objective on Peapack-Gladstone Financial from $49.00 to $55.00 and gave the stock a "strong-buy" rating in a report on Wednesday, July 1st.

Insider Activity at Peapack-Gladstone Financial

In other news, EVP Lisa Chalkan sold 1,100 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $47.60, for a total value of $52,360.00. Following the transaction, the executive vice president directly owned 26,075 shares in the company, valued at $1,241,170. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John P. Babcock sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $47.11, for a total transaction of $235,550.00. Following the transaction, the executive vice president owned 45,582 shares of the company's stock, valued at approximately $2,147,368.02. This represents a 9.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,100 shares of company stock worth $377,170 over the last ninety days. Company insiders own 5.75% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PGC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Peapack-Gladstone Financial by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider's stock worth $282,000 after acquiring an additional 390 shares in the last quarter. Azora Capital LP raised its stake in shares of Peapack-Gladstone Financial by 4.1% in the 4th quarter. Azora Capital LP now owns 11,058 shares of the financial services provider's stock valued at $308,000 after purchasing an additional 431 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Peapack-Gladstone Financial by 0.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 65,766 shares of the financial services provider's stock valued at $1,832,000 after purchasing an additional 500 shares during the period. Royal Bank of Canada lifted its holdings in shares of Peapack-Gladstone Financial by 73.2% in the first quarter. Royal Bank of Canada now owns 1,252 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 529 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Peapack-Gladstone Financial by 7.2% during the second quarter. First Trust Advisors LP now owns 11,361 shares of the financial services provider's stock worth $321,000 after buying an additional 763 shares during the period. Institutional investors own 72.75% of the company's stock.

Peapack-Gladstone Financial Price Performance

Peapack-Gladstone Financial stock opened at $46.38 on Friday. The business has a 50 day simple moving average of $45.23 and a 200 day simple moving average of $38.59. The company has a market capitalization of $821.85 million, a PE ratio of 18.70 and a beta of 0.71. Peapack-Gladstone Financial has a one year low of $24.42 and a one year high of $49.14.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.14. The firm had revenue of $82.49 million for the quarter, compared to analyst estimates of $79.17 million. Peapack-Gladstone Financial had a net margin of 9.60% and a return on equity of 6.75%. Equities analysts anticipate that Peapack-Gladstone Financial will post 3.76 earnings per share for the current fiscal year.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.

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