Keefe, Bruyette & Woods Has Lowered Expectations for Peapack-Gladstone Financial (NASDAQ:PGC) Stock Price

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $38.00 to $35.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 32.58% from the company's previous close.

PGC has been the topic of a number of other research reports. Raymond James Financial began coverage on Peapack-Gladstone Financial in a report on Friday, April 11th. They issued a "strong-buy" rating and a $39.00 target price on the stock. Wall Street Zen raised Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a report on Saturday, June 7th.

Peapack-Gladstone Financial Stock Up 2.0%

Shares of PGC traded up $0.52 during trading on Wednesday, reaching $26.40. The company's stock had a trading volume of 123,994 shares, compared to its average volume of 111,899. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The company has a market cap of $468.34 million, a price-to-earnings ratio of 14.43 and a beta of 0.86. Peapack-Gladstone Financial has a twelve month low of $23.96 and a twelve month high of $37.88. The company has a fifty day moving average of $28.18 and a two-hundred day moving average of $29.27.

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 the consensus estimate of $0.61 by ($0.16). Peapack-Gladstone Financial had a net margin of 7.62% and a return on equity of 5.29%. The firm had revenue of $69.74 million for the quarter, compared to the consensus estimate of $69.77 million. On average, sell-side analysts predict that Peapack-Gladstone Financial will post 2.71 EPS for the current fiscal year.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy bought 3,720 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was purchased at an average cost of $26.24 per share, with a total value of $97,612.80. Following the completion of the purchase, the chief executive officer owned 39,129 shares in the company, valued at approximately $1,026,744.96. The trade was a 10.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Peapack-Gladstone Financial by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,117,333 shares of the financial services provider's stock worth $35,811,000 after purchasing an additional 10,221 shares during the period. Vanguard Group Inc. grew its position in Peapack-Gladstone Financial by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider's stock worth $30,037,000 after buying an additional 62,803 shares in the last quarter. Wellington Management Group LLP grew its position in Peapack-Gladstone Financial by 0.3% during the first 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 in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Peapack-Gladstone Financial by 19.7% in the 1st quarter. Brown Advisory Inc. now owns 592,666 shares of the financial services provider's stock valued at $16,832,000 after purchasing an additional 97,349 shares in the last quarter. Finally, Philadelphia Trust Co. boosted its holdings in shares of Peapack-Gladstone Financial by 14.0% in the 1st quarter. Philadelphia Trust Co. now owns 372,560 shares of the financial services provider's stock valued at $10,581,000 after purchasing an additional 45,825 shares in the last quarter. 72.75% of the stock is 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.