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

Wall Street Zen upgraded shares of Peapack-Gladstone Financial (NASDAQ:PGC - Free Report) from a sell rating to a hold rating in a research report report published on Friday.

A number of other research firms have also weighed in on PGC. Keefe, Bruyette & Woods cut their target price on shares of Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Raymond James started 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 target price for the company.

Peapack-Gladstone Financial Stock Performance

NASDAQ PGC traded up $0.57 on Friday, reaching $27.86. 55,979 shares of the stock were exchanged, compared to its average volume of 95,872. The firm has a market capitalization of $494.12 million, a PE ratio of 15.06 and a beta of 0.87. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial has a one year low of $20.30 and a one year high of $37.88. The company's 50-day simple moving average is $27.36 and its two-hundred day simple moving average is $30.88.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.08). The company had revenue of $64.36 million for the quarter, compared to the consensus estimate of $64.07 million. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. Analysts expect that Peapack-Gladstone Financial will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.72%. Peapack-Gladstone Financial's dividend payout ratio is presently 11.11%.

Insiders Place Their Bets

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $28.91, for a total transaction of $578,200.00. Following the completion of the transaction, the chief executive officer now directly owns 43,703 shares of the company's stock, valued at approximately $1,263,453.73. This trade represents a 31.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director F Duffield Meyercord purchased 6,316 shares of Peapack-Gladstone Financial stock in a transaction on Monday, March 31st. The shares were acquired at an average cost of $28.44 per share, with a total value of $179,627.04. Following the completion of the transaction, the director now directly owns 140,372 shares in the company, valued at $3,992,179.68. The trade was a 4.71% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 40,000 shares of company stock worth $1,152,650. 7.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peapack-Gladstone Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in PGC. JPMorgan Chase & Co. grew its stake in Peapack-Gladstone Financial by 37.5% in the 4th quarter. JPMorgan Chase & Co. now owns 202,865 shares of the financial services provider's stock valued at $6,502,000 after acquiring an additional 55,363 shares during the period. Proficio Capital Partners LLC purchased a new position in Peapack-Gladstone Financial in the 4th quarter valued at $532,000. Empowered Funds LLC raised its holdings in shares of Peapack-Gladstone Financial by 4.9% during the 4th quarter. Empowered Funds LLC now owns 51,121 shares of the financial services provider's stock worth $1,638,000 after acquiring an additional 2,411 shares during the period. Delta Financial Group Inc. purchased a new position in shares of Peapack-Gladstone Financial during the 4th quarter worth $353,000. Finally, Vanguard Group Inc. raised its holdings in shares of Peapack-Gladstone Financial by 7.2% during the 4th quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider's stock worth $30,037,000 after acquiring an additional 62,803 shares during the period. Institutional investors and hedge funds own 72.75% of the company's stock.

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.