Peapack-Gladstone Financial (NASDAQ:PGC) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• Peapack-Gladstone Financial (NASDAQ:PGC) has been restated with a "Hold (C)" rating by Weiss Ratings, alongside upgrades from Wall Street Zen moving from a "sell" to a "hold" rating.
• The company reported a net margin of 7.62% and earnings of $0.45 per share for the last quarter, falling short of analysts' expectations of $0.61 per share.
• Insider trading activity includes EVP Gregory Martin Smith selling 3,200 shares, while CEO Douglas L. Kennedy acquired 3,720 shares, indicating mixed confidence from company executives.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report)'s stock had its "hold (c)" rating restated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also weighed in on PGC. Wall Street Zen upgraded Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods lowered their target price on Peapack-Gladstone Financial from $38.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $36.33.

Peapack-Gladstone Financial Stock Performance

Shares of NASDAQ:PGC opened at $27.66 on Wednesday. Peapack-Gladstone Financial has a twelve month low of $23.96 and a twelve month high of $37.88. The firm has a market cap of $488.20 million, a PE ratio of 15.11 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.96. The business has a fifty day moving average of $27.75 and a 200-day moving average of $27.78.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its earnings results on Monday, July 21st. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.16). Peapack-Gladstone Financial had a net margin of 7.62% and a return on equity of 5.25%. The business had revenue of $69.74 million during the quarter, compared to analyst estimates of $69.77 million. On average, equities research analysts predict that Peapack-Gladstone Financial will post 2.71 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Gregory Martin Smith sold 3,200 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $29.15, for a total transaction of $93,280.00. Following the completion of the transaction, the executive vice president directly owned 5,427 shares in the company, valued at approximately $158,197.05. The trade was a 37.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas L. Kennedy bought 3,720 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were bought at an average price of $26.24 per share, with a total value of $97,612.80. Following the completion of the transaction, the chief executive officer directly owned 39,129 shares in the company, valued at approximately $1,026,744.96. This trade represents a 10.51% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 5,702 shares of company stock worth $167,461 over the last three months. 7.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of Peapack-Gladstone Financial by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 656,408 shares of the financial services provider's stock worth $18,642,000 after buying an additional 1,958 shares during the period. Brown Advisory Inc. grew its position in shares of Peapack-Gladstone Financial by 19.7% during the 1st quarter. Brown Advisory Inc. now owns 592,666 shares of the financial services provider's stock worth $16,832,000 after buying an additional 97,349 shares during the period. Philadelphia Trust Co. grew its position in shares of Peapack-Gladstone Financial by 14.0% during the 1st quarter. Philadelphia Trust Co. now owns 372,560 shares of the financial services provider's stock worth $10,581,000 after buying an additional 45,825 shares during the period. American Century Companies Inc. grew its position in shares of Peapack-Gladstone Financial by 0.4% during the 1st quarter. American Century Companies Inc. now owns 340,561 shares of the financial services provider's stock worth $9,672,000 after buying an additional 1,413 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of Peapack-Gladstone Financial by 6.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 269,530 shares of the financial services provider's stock worth $7,655,000 after buying an additional 16,390 shares during the period. 72.75% of the stock is currently owned by institutional investors and hedge funds.

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.

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