Peapack-Gladstone Financial (NASDAQ:PGC) Shares Cross Above 200 Day Moving Average - Here's Why

Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.63 and traded as high as $30.41. Peapack-Gladstone Financial shares last traded at $30.37, with a volume of 37,357 shares trading hands.

Analyst Ratings Changes

PGC has been the subject of several recent analyst reports. Raymond James Financial began coverage on shares of Peapack-Gladstone Financial in a research note on Friday, April 11th. They set a "strong-buy" rating and a $39.00 price objective for the company. Wall Street Zen raised shares of Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th.

Peapack-Gladstone Financial Trading Down 1.4%

The stock has a market capitalization of $531.49 million, a P/E ratio of 16.64 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average price is $28.06 and its two-hundred day moving average price is $29.54.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.08). The business had revenue of $64.36 million during the quarter, compared to the consensus estimate of $64.07 million. Peapack-Gladstone Financial had a return on equity of 5.27% and a net margin of 7.71%. Equities research analysts forecast that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current year.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new stake in Peapack-Gladstone Financial during the 4th quarter valued at $32,000. KLP Kapitalforvaltning AS bought a new stake in Peapack-Gladstone Financial during the 4th quarter valued at $112,000. Quantbot Technologies LP raised its holdings in Peapack-Gladstone Financial by 507.2% during the 4th quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock valued at $189,000 after buying an additional 4,930 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Peapack-Gladstone Financial during the 4th quarter valued at $201,000. Finally, Stifel Financial Corp bought a new stake in Peapack-Gladstone Financial during the 4th quarter valued at $211,000. 72.75% of the stock is currently owned by institutional investors.

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.