Peapack-Gladstone Financial (NASDAQ:PGC) Given New $35.00 Price Target at Keefe, Bruyette & Woods

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) had its price target decreased by equities research analysts at Keefe, Bruyette & Woods from $38.00 to $35.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 35.24% from the company's current price.

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

Peapack-Gladstone Financial Price Performance

Shares of PGC traded down $0.46 during trading hours on Wednesday, hitting $25.88. 198,979 shares of the company were exchanged, compared to its average volume of 105,581. Peapack-Gladstone Financial has a one year low of $23.96 and a one year high of $37.88. The firm has a fifty day simple moving average of $28.23 and a 200-day simple moving average of $29.31. The company has a market capitalization of $459.11 million, a PE ratio of 14.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.94.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 5.29% and a net margin of 7.62%. The firm had revenue of $69.74 million for the quarter, compared to analysts' expectations of $69.77 million. As a group, sell-side analysts predict that Peapack-Gladstone Financial will post 2.71 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Douglas L. Kennedy bought 3,720 shares of Peapack-Gladstone Financial stock in a transaction that occurred 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 purchase, the chief executive officer owned 39,129 shares in the company, valued at approximately $1,026,744.96. This trade represents a 10.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.63% of the company's stock.

Institutional Trading of Peapack-Gladstone Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Peapack-Gladstone Financial by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,117,333 shares of the financial services provider's stock valued at $35,811,000 after buying an additional 10,221 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 62,803 shares during the period. Wellington Management Group LLP grew its holdings in Peapack-Gladstone Financial by 0.3% in the 1st quarter. Wellington Management Group LLP now owns 656,408 shares of the financial services provider's stock valued at $18,642,000 after buying an additional 1,958 shares in the last quarter. Brown Advisory Inc. increased its position in 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. Finally, Philadelphia Trust Co. lifted its holdings in shares of Peapack-Gladstone Financial by 14.0% during the first 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 in the last quarter. 72.75% of the stock is owned by institutional investors.

About Peapack-Gladstone Financial

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.