Peapack-Gladstone Financial (NASDAQ:PGC) Upgraded to "Hold" at Wall Street Zen

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

A number of other brokerages have also recently issued reports on PGC. Keefe, Bruyette & Woods lowered their price objective on 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. Raymond James initiated 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 price target on the stock.

Peapack-Gladstone Financial Stock Up 2.1%

NASDAQ:PGC opened at $27.87 on Friday. The firm's 50-day moving average price is $27.30 and its 200-day moving average price is $30.73. The company has a market capitalization of $494.30 million, a PE ratio of 15.06 and a beta of 0.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. Peapack-Gladstone Financial has a 1-year low of $20.40 and a 1-year high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its earnings results 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 analysts' expectations of $64.07 million. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. On average, equities analysts predict that Peapack-Gladstone Financial will post 2.71 EPS for the current fiscal year.

Insider Activity

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total transaction of $287,600.00. Following the transaction, the executive vice president now owns 39,155 shares in the company, valued at approximately $1,126,097.80. This represents a 20.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F Duffield Meyercord bought 6,316 shares of the stock in a transaction on Monday, March 31st. The shares were bought at an average price of $28.44 per share, for a total transaction of $179,627.04. Following the purchase, the director now directly owns 140,372 shares in the company, valued at approximately $3,992,179.68. This trade represents a 4.71% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 40,000 shares of company stock worth $1,152,650 over the last 90 days. 7.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Peapack-Gladstone Financial by 0.9% during 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 acquiring an additional 10,221 shares during the period. Vanguard Group Inc. lifted its stake in shares of Peapack-Gladstone Financial by 7.2% in the 4th 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. Boston Partners boosted its holdings in shares of Peapack-Gladstone Financial by 2.3% in the fourth quarter. Boston Partners now owns 781,826 shares of the financial services provider's stock worth $25,046,000 after buying an additional 17,220 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Peapack-Gladstone Financial by 0.3% in 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 during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Peapack-Gladstone Financial by 19.7% in the first 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 last quarter. Institutional investors own 72.75% of the company's stock.

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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