Annual Income Statements for Peapack-Gladstone Financial
This table shows Peapack-Gladstone Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Peapack-Gladstone Financial
This table shows Peapack-Gladstone Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
20 |
21 |
18 |
13 |
8.76 |
8.60 |
8.63 |
7.53 |
7.59 |
9.24 |
Consolidated Net Income / (Loss) |
|
20 |
21 |
18 |
13 |
8.76 |
8.60 |
8.63 |
7.53 |
7.59 |
9.24 |
Net Income / (Loss) Continuing Operations |
|
20 |
21 |
18 |
13 |
8.76 |
8.60 |
8.63 |
7.53 |
7.59 |
9.24 |
Total Pre-Tax Income |
|
28 |
30 |
25 |
18 |
13 |
12 |
12 |
9.56 |
11 |
12 |
Total Revenue |
|
62 |
65 |
62 |
57 |
56 |
54 |
53 |
57 |
57 |
62 |
Net Interest Income / (Expense) |
|
46 |
48 |
44 |
39 |
37 |
37 |
34 |
35 |
38 |
42 |
Total Interest Income |
|
55 |
64 |
70 |
75 |
78 |
80 |
79 |
79 |
83 |
86 |
Loans and Leases Interest Income |
|
51 |
59 |
64 |
68 |
72 |
73 |
73 |
72 |
73 |
73 |
Investment Securities Interest Income |
|
2.87 |
3.87 |
4.48 |
4.91 |
5.18 |
5.20 |
5.14 |
5.17 |
6.11 |
6.99 |
Deposits and Money Market Investments Interest Income |
|
1.16 |
1.26 |
1.54 |
1.45 |
1.46 |
1.62 |
1.52 |
2.42 |
3.98 |
5.72 |
Total Interest Expense |
|
9.49 |
16 |
27 |
36 |
42 |
44 |
45 |
44 |
46 |
44 |
Deposits Interest Expense |
|
8.04 |
14 |
24 |
29 |
34 |
37 |
40 |
42 |
44 |
43 |
Long-Term Debt Interest Expense |
|
1.36 |
1.36 |
1.64 |
1.60 |
1.73 |
1.69 |
1.68 |
1.69 |
1.69 |
1.59 |
Other Interest Expense |
|
0.06 |
0.06 |
0.05 |
0.05 |
0.05 |
0.04 |
0.04 |
0.02 |
0.02 |
0.01 |
Total Non-Interest Income |
|
16 |
17 |
18 |
19 |
19 |
18 |
19 |
22 |
19 |
20 |
Other Service Charges |
|
16 |
16 |
17 |
18 |
19 |
16 |
18 |
21 |
18 |
19 |
Net Realized & Unrealized Capital Gains on Investments |
|
0.11 |
0.68 |
1.10 |
0.64 |
0.12 |
0.84 |
0.35 |
0.42 |
0.85 |
0.61 |
Other Non-Interest Income |
|
0.30 |
0.32 |
0.30 |
0.31 |
0.31 |
0.36 |
0.50 |
0.33 |
0.39 |
0.34 |
Provision for Credit Losses |
|
0.60 |
1.93 |
1.51 |
1.70 |
5.86 |
5.03 |
0.63 |
3.91 |
1.22 |
1.74 |
Total Non-Interest Expense |
|
34 |
33 |
36 |
38 |
37 |
38 |
40 |
43 |
45 |
48 |
Salaries and Employee Benefits |
|
23 |
22 |
25 |
26 |
25 |
24 |
28 |
30 |
31 |
33 |
Net Occupancy & Equipment Expense |
|
4.53 |
4.90 |
4.37 |
4.73 |
5.21 |
5.42 |
5.08 |
5.78 |
5.63 |
6.00 |
Other Operating Expenses |
|
6.37 |
6.03 |
6.61 |
6.61 |
6.94 |
7.88 |
6.48 |
7.47 |
7.97 |
8.95 |
Income Tax Expense |
|
7.62 |
8.93 |
6.60 |
4.96 |
3.85 |
3.02 |
3.78 |
2.03 |
3.16 |
3.00 |
Basic Earnings per Share |
|
$1.11 |
$1.15 |
$1.03 |
$0.73 |
$0.49 |
$0.49 |
$0.49 |
$0.42 |
$0.43 |
$0.53 |
Weighted Average Basic Shares Outstanding |
|
18.07M |
17.83M |
17.84M |
17.93M |
17.86M |
17.75M |
17.71M |
17.75M |
17.62M |
17.60M |
Diluted Earnings per Share |
|
$1.09 |
$1.12 |
$1.01 |
$0.73 |
$0.49 |
$0.48 |
$0.48 |
$0.42 |
$0.43 |
$0.52 |
Weighted Average Diluted Shares Outstanding |
|
18.42M |
17.83M |
18.26M |
18.08M |
18.01M |
17.75M |
17.81M |
17.79M |
17.70M |
17.60M |
Weighted Average Basic & Diluted Shares Outstanding |
|
17.92M |
17.83M |
18.02M |
17.89M |
17.82M |
17.75M |
17.77M |
17.68M |
17.59M |
17.60M |
Annual Cash Flow Statements for Peapack-Gladstone Financial
This table details how cash moves in and out of Peapack-Gladstone Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
43 |
-2.40 |
204 |
Net Cash From Operating Activities |
119 |
70 |
71 |
Net Cash From Continuing Operating Activities |
119 |
70 |
71 |
Net Income / (Loss) Continuing Operations |
74 |
49 |
33 |
Consolidated Net Income / (Loss) |
74 |
49 |
33 |
Provision For Loan Losses |
6.35 |
14 |
7.50 |
Depreciation Expense |
3.48 |
3.69 |
3.54 |
Amortization Expense |
4.52 |
2.18 |
1.62 |
Non-Cash Adjustments to Reconcile Net Income |
26 |
3.81 |
-11 |
Changes in Operating Assets and Liabilities, net |
3.81 |
-2.55 |
37 |
Net Cash From Investing Activities |
-356 |
-147 |
-303 |
Net Cash From Continuing Investing Activities |
-356 |
-147 |
-304 |
Purchase of Property, Leasehold Improvements and Equipment |
-3.52 |
-3.28 |
-8.10 |
Purchase of Investment Securities |
-953 |
-899 |
-1,024 |
Sale of Property, Leasehold Improvements and Equipment |
0.28 |
-0.01 |
0.43 |
Sale and/or Maturity of Investments |
600 |
755 |
727 |
Net Cash From Financing Activities |
280 |
75 |
436 |
Net Cash From Continuing Financing Activities |
280 |
75 |
436 |
Net Change in Deposits |
-61 |
69 |
855 |
Issuance of Debt |
0.00 |
0.00 |
0.00 |
Issuance of Preferred Equity |
0.00 |
0.00 |
-4.34 |
Repayment of Debt |
380 |
24 |
-404 |
Repurchase of Common Equity |
-33 |
-12 |
-7.19 |
Payment of Dividends |
-3.65 |
-3.56 |
-3.53 |
Other Financing Activities, Net |
-1.74 |
-2.19 |
-0.02 |
Cash Interest Paid |
33 |
141 |
171 |
Cash Income Taxes Paid |
25 |
18 |
18 |
Quarterly Cash Flow Statements for Peapack-Gladstone Financial
This table details how cash moves in and out of Peapack-Gladstone Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
-45 |
82 |
61 |
-80 |
16 |
-0.20 |
7.17 |
121 |
177 |
-101 |
Net Cash From Operating Activities |
|
35 |
13 |
39 |
5.03 |
25 |
1.32 |
19 |
0.85 |
25 |
26 |
Net Cash From Continuing Operating Activities |
|
35 |
13 |
39 |
12 |
18 |
1.32 |
19 |
0.85 |
25 |
26 |
Net Income / (Loss) Continuing Operations |
|
20 |
21 |
18 |
13 |
8.76 |
8.60 |
8.63 |
7.53 |
7.59 |
9.24 |
Consolidated Net Income / (Loss) |
|
20 |
21 |
18 |
13 |
8.76 |
8.60 |
8.63 |
7.53 |
7.59 |
9.24 |
Provision For Loan Losses |
|
0.60 |
1.93 |
1.51 |
1.70 |
5.86 |
5.03 |
0.63 |
3.91 |
1.22 |
1.74 |
Depreciation Expense |
|
0.86 |
0.92 |
0.88 |
- |
- |
0.97 |
0.97 |
0.89 |
0.84 |
0.85 |
Amortization Expense |
|
1.33 |
0.77 |
0.60 |
- |
- |
0.46 |
0.43 |
0.43 |
0.40 |
0.36 |
Non-Cash Adjustments to Reconcile Net Income |
|
4.10 |
-3.27 |
1.73 |
18 |
-13 |
-3.15 |
-1.22 |
0.28 |
-4.12 |
-6.40 |
Changes in Operating Assets and Liabilities, net |
|
8.38 |
-7.63 |
16 |
-19 |
11 |
-11 |
9.67 |
-12 |
19 |
21 |
Net Cash From Investing Activities |
|
2.37 |
-179 |
-75 |
-75 |
-51 |
53 |
79 |
62 |
-124 |
-321 |
Net Cash From Continuing Investing Activities |
|
2.37 |
-179 |
-75 |
-70 |
-56 |
53 |
79 |
62 |
-124 |
-322 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-1.65 |
-0.79 |
-0.64 |
-0.74 |
-0.92 |
-0.98 |
-1.11 |
-1.28 |
-1.68 |
-4.03 |
Purchase of Investment Securities |
|
-103 |
-322 |
-261 |
-202 |
-300 |
-137 |
-115 |
-117 |
-309 |
-484 |
Sale of Property, Leasehold Improvements and Equipment |
|
- |
0.28 |
-0.01 |
- |
- |
- |
- |
- |
0.13 |
0.29 |
Sale and/or Maturity of Investments |
|
107 |
144 |
187 |
132 |
245 |
191 |
194 |
180 |
186 |
166 |
Net Cash From Financing Activities |
|
-83 |
247 |
97 |
-9.91 |
43 |
-55 |
-91 |
58 |
276 |
193 |
Net Cash From Continuing Financing Activities |
|
-83 |
247 |
97 |
-116 |
148 |
-55 |
-91 |
58 |
276 |
193 |
Net Change in Deposits |
|
-105 |
-94 |
104 |
-110 |
61 |
15 |
203 |
179 |
279 |
194 |
Issuance of Preferred Equity |
|
- |
- |
- |
- |
0.00 |
-0.07 |
- |
- |
- |
-4.34 |
Payment of Dividends |
|
-0.91 |
-0.90 |
-0.88 |
-0.89 |
-0.89 |
-0.89 |
-0.89 |
-0.89 |
-0.88 |
-0.87 |
Other Financing Activities, Net |
|
0.23 |
0.12 |
-2.08 |
-0.59 |
0.23 |
0.25 |
-5.59 |
0.77 |
0.26 |
4.54 |
Cash Interest Paid |
|
7.54 |
16 |
21 |
37 |
39 |
44 |
36 |
45 |
44 |
46 |
Cash Income Taxes Paid |
|
10 |
8.69 |
0.20 |
3.12 |
6.35 |
8.81 |
1.25 |
- |
13 |
3.92 |
Annual Balance Sheets for Peapack-Gladstone Financial
This table presents Peapack-Gladstone Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
6,354 |
6,477 |
7,011 |
Cash and Due from Banks |
5.94 |
5.89 |
8.49 |
Federal Funds Sold |
0.00 |
0.00 |
0.00 |
Interest Bearing Deposits at Other Banks |
184 |
182 |
383 |
Trading Account Securities |
657 |
658 |
899 |
Loans and Leases, Net of Allowance |
5,224 |
-66 |
-73 |
Allowance for Loan and Lease Losses |
61 |
66 |
73 |
Loans Held for Sale |
0.00 |
0.10 |
8.59 |
Premises and Equipment, Net |
24 |
24 |
29 |
Goodwill |
36 |
36 |
36 |
Intangible Assets |
11 |
9.80 |
8.71 |
Other Assets |
211 |
5,626 |
5,711 |
Total Liabilities & Shareholders' Equity |
6,354 |
6,477 |
7,011 |
Total Liabilities |
5,821 |
5,893 |
6,405 |
Non-Interest Bearing Deposits |
1,246 |
958 |
1,113 |
Interest Bearing Deposits |
3,959 |
4,316 |
5,016 |
Short-Term Debt |
380 |
404 |
0.00 |
Long-Term Debt |
133 |
133 |
134 |
Other Long-Term Liabilities |
103 |
82 |
143 |
Total Equity & Noncontrolling Interests |
533 |
584 |
606 |
Total Preferred & Common Equity |
533 |
584 |
606 |
Preferred Stock |
0.00 |
0.00 |
0.00 |
Total Common Equity |
533 |
584 |
606 |
Common Stock |
18 |
18 |
18 |
Retained Earnings |
349 |
394 |
424 |
Treasury Stock |
-98 |
-110 |
-118 |
Accumulated Other Comprehensive Income / (Loss) |
-74 |
-65 |
-66 |
Other Equity Adjustments |
339 |
347 |
348 |
Quarterly Balance Sheets for Peapack-Gladstone Financial
This table presents Peapack-Gladstone Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
6,087 |
6,480 |
6,480 |
6,522 |
6,409 |
6,505 |
6,794 |
Cash and Due from Banks |
|
5.07 |
6.51 |
4.86 |
7.40 |
5.77 |
5.59 |
8.13 |
Interest Bearing Deposits at Other Banks |
|
103 |
245 |
167 |
180 |
189 |
310 |
485 |
Trading Account Securities |
|
601 |
681 |
664 |
630 |
670 |
710 |
786 |
Loans and Leases, Net of Allowance |
|
5,118 |
5,303 |
5,372 |
5,418 |
5,290 |
-68 |
-71 |
Allowance for Loan and Lease Losses |
|
60 |
62 |
63 |
69 |
66 |
68 |
71 |
Loans Held for Sale |
|
1.33 |
14 |
14 |
0.00 |
6.07 |
8.30 |
0.56 |
Premises and Equipment, Net |
|
24 |
24 |
24 |
24 |
24 |
25 |
26 |
Goodwill |
|
36 |
36 |
36 |
36 |
36 |
36 |
36 |
Intangible Assets |
|
11 |
11 |
10 |
10 |
9.53 |
9.26 |
8.99 |
Other Assets |
|
187 |
160 |
187 |
215 |
177 |
5,466 |
5,515 |
Total Liabilities & Shareholders' Equity |
|
6,087 |
6,480 |
6,480 |
6,522 |
6,409 |
6,505 |
6,794 |
Total Liabilities |
|
5,572 |
5,925 |
5,915 |
5,963 |
5,826 |
5,917 |
6,186 |
Non-Interest Bearing Deposits |
|
1,318 |
1,097 |
1,024 |
947 |
915 |
950 |
1,080 |
Interest Bearing Deposits |
|
3,981 |
4,212 |
4,174 |
4,312 |
4,562 |
4,706 |
4,856 |
Short-Term Debt |
|
32 |
379 |
485 |
471 |
119 |
0.00 |
0.00 |
Long-Term Debt |
|
133 |
133 |
133 |
133 |
133 |
133 |
133 |
Other Long-Term Liabilities |
|
107 |
104 |
98 |
99 |
97 |
127 |
117 |
Total Equity & Noncontrolling Interests |
|
516 |
555 |
565 |
559 |
582 |
588 |
608 |
Total Preferred & Common Equity |
|
516 |
555 |
565 |
559 |
582 |
588 |
608 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
516 |
555 |
565 |
559 |
582 |
588 |
608 |
Common Stock |
|
17 |
18 |
18 |
18 |
18 |
18 |
18 |
Retained Earnings |
|
329 |
366 |
379 |
386 |
402 |
408 |
415 |
Treasury Stock |
|
-93 |
-101 |
-105 |
-108 |
-113 |
-115 |
-118 |
Accumulated Other Comprehensive Income / (Loss) |
|
-75 |
-67 |
-68 |
-82 |
-68 |
-68 |
-55 |
Other Equity Adjustments |
|
337 |
339 |
342 |
345 |
343 |
345 |
347 |
Annual Metrics And Ratios for Peapack-Gladstone Financial
This table displays calculated financial ratios and metrics derived from Peapack-Gladstone Financial's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
15.31% |
-5.29% |
-0.67% |
EBITDA Growth |
23.60% |
-33.70% |
-31.50% |
EBIT Growth |
31.78% |
-34.26% |
-33.19% |
NOPAT Growth |
31.13% |
-34.20% |
-32.48% |
Net Income Growth |
31.13% |
-34.20% |
-32.48% |
EPS Growth |
36.52% |
-32.25% |
-31.73% |
Operating Cash Flow Growth |
57.56% |
-41.06% |
1.46% |
Free Cash Flow Firm Growth |
-387.99% |
90.96% |
1,668.43% |
Invested Capital Growth |
53.96% |
7.20% |
-34.03% |
Revenue Q/Q Growth |
3.71% |
-4.41% |
3.43% |
EBITDA Q/Q Growth |
7.65% |
-19.88% |
0.79% |
EBIT Q/Q Growth |
9.39% |
-21.00% |
1.39% |
NOPAT Q/Q Growth |
8.35% |
-19.69% |
1.98% |
Net Income Q/Q Growth |
8.35% |
-19.69% |
1.98% |
EPS Q/Q Growth |
9.29% |
-19.10% |
2.21% |
Operating Cash Flow Q/Q Growth |
5.61% |
-14.61% |
54.70% |
Free Cash Flow Firm Q/Q Growth |
-361.18% |
93.73% |
-8.73% |
Invested Capital Q/Q Growth |
53.57% |
-3.61% |
-0.23% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
45.50% |
31.85% |
21.96% |
EBIT Margin |
42.20% |
29.30% |
19.70% |
Profit (Net Income) Margin |
30.62% |
21.27% |
14.46% |
Tax Burden Percent |
72.55% |
72.61% |
73.38% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
27.45% |
27.39% |
26.62% |
Return on Invested Capital (ROIC) |
8.61% |
4.51% |
3.55% |
ROIC Less NNEP Spread (ROIC-NNEP) |
8.61% |
4.51% |
3.55% |
Return on Net Nonoperating Assets (RNNOA) |
5.15% |
4.24% |
2.00% |
Return on Equity (ROE) |
13.76% |
8.75% |
5.55% |
Cash Return on Invested Capital (CROIC) |
-33.88% |
-2.44% |
44.55% |
Operating Return on Assets (OROA) |
1.65% |
1.05% |
0.67% |
Return on Assets (ROA) |
1.19% |
0.76% |
0.49% |
Return on Common Equity (ROCE) |
13.76% |
8.75% |
5.55% |
Return on Equity Simple (ROE_SIMPLE) |
13.93% |
8.37% |
5.44% |
Net Operating Profit after Tax (NOPAT) |
74 |
49 |
33 |
NOPAT Margin |
30.62% |
21.27% |
14.46% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
44.62% |
52.36% |
63.48% |
Operating Expenses to Revenue |
55.18% |
64.57% |
77.01% |
Earnings before Interest and Taxes (EBIT) |
102 |
67 |
45 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
110 |
73 |
50 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.23 |
0.90 |
0.93 |
Price to Tangible Book Value (P/TBV) |
1.35 |
0.98 |
1.00 |
Price to Revenue (P/Rev) |
2.71 |
2.29 |
2.47 |
Price to Earnings (P/E) |
8.84 |
10.78 |
17.06 |
Dividend Yield |
0.55% |
0.68% |
0.63% |
Earnings Yield |
11.31% |
9.28% |
5.86% |
Enterprise Value to Invested Capital (EV/IC) |
0.94 |
0.78 |
0.41 |
Enterprise Value to Revenue (EV/Rev) |
4.04 |
3.81 |
1.34 |
Enterprise Value to EBITDA (EV/EBITDA) |
8.87 |
11.98 |
6.09 |
Enterprise Value to EBIT (EV/EBIT) |
9.56 |
13.02 |
6.78 |
Enterprise Value to NOPAT (EV/NOPAT) |
13.18 |
17.93 |
9.24 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
8.23 |
12.50 |
4.29 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
0.00 |
0.74 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.96 |
0.92 |
0.22 |
Long-Term Debt to Equity |
0.25 |
0.23 |
0.22 |
Financial Leverage |
0.60 |
0.94 |
0.56 |
Leverage Ratio |
11.52 |
11.49 |
11.34 |
Compound Leverage Factor |
11.52 |
11.49 |
11.34 |
Debt to Total Capital |
49.02% |
47.92% |
18.06% |
Short-Term Debt to Total Capital |
36.30% |
36.03% |
0.00% |
Long-Term Debt to Total Capital |
12.72% |
11.89% |
18.06% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
50.98% |
52.08% |
81.94% |
Debt to EBITDA |
4.64 |
7.34 |
2.67 |
Net Debt to EBITDA |
2.92 |
4.78 |
-5.15 |
Long-Term Debt to EBITDA |
1.21 |
1.82 |
2.67 |
Debt to NOPAT |
6.90 |
10.99 |
4.05 |
Net Debt to NOPAT |
4.34 |
7.15 |
-7.82 |
Long-Term Debt to NOPAT |
1.79 |
2.73 |
4.05 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-292 |
-26 |
414 |
Operating Cash Flow to CapEx |
3,669.78% |
2,135.93% |
927.15% |
Free Cash Flow to Firm to Interest Expense |
-8.16 |
-0.18 |
2.32 |
Operating Cash Flow to Interest Expense |
3.32 |
0.47 |
0.40 |
Operating Cash Flow Less CapEx to Interest Expense |
3.23 |
0.45 |
0.35 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.04 |
0.04 |
0.03 |
Fixed Asset Turnover |
10.35 |
9.57 |
8.60 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
1,045 |
1,121 |
739 |
Invested Capital Turnover |
0.28 |
0.21 |
0.25 |
Increase / (Decrease) in Invested Capital |
366 |
75 |
-381 |
Enterprise Value (EV) |
979 |
876 |
305 |
Market Capitalization |
656 |
527 |
563 |
Book Value per Share |
$29.74 |
$32.76 |
$34.45 |
Tangible Book Value per Share |
$27.10 |
$30.17 |
$31.90 |
Total Capital |
1,045 |
1,121 |
739 |
Total Debt |
513 |
537 |
134 |
Total Long-Term Debt |
133 |
133 |
134 |
Net Debt |
322 |
349 |
-258 |
Capital Expenditures (CapEx) |
3.24 |
3.28 |
7.67 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
513 |
537 |
134 |
Total Depreciation and Amortization (D&A) |
8.00 |
5.87 |
5.16 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$4.09 |
$2.74 |
$1.87 |
Adjusted Weighted Average Basic Shares Outstanding |
17.83M |
17.75M |
17.60M |
Adjusted Diluted Earnings per Share |
$4.00 |
$2.71 |
$1.85 |
Adjusted Weighted Average Diluted Shares Outstanding |
17.83M |
17.75M |
17.60M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
17.83M |
17.75M |
17.60M |
Normalized Net Operating Profit after Tax (NOPAT) |
74 |
49 |
33 |
Normalized NOPAT Margin |
30.62% |
21.27% |
14.46% |
Pre Tax Income Margin |
42.20% |
29.30% |
19.70% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
2.86 |
0.45 |
0.25 |
NOPAT to Interest Expense |
2.07 |
0.33 |
0.18 |
EBIT Less CapEx to Interest Expense |
2.77 |
0.43 |
0.21 |
NOPAT Less CapEx to Interest Expense |
1.98 |
0.31 |
0.14 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
4.91% |
7.28% |
10.70% |
Augmented Payout Ratio |
48.98% |
32.86% |
32.49% |
Quarterly Metrics And Ratios for Peapack-Gladstone Financial
This table displays calculated financial ratios and metrics derived from Peapack-Gladstone Financial's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
16.83% |
15.44% |
14.17% |
-6.36% |
-9.75% |
-16.32% |
-14.44% |
-1.56% |
1.34% |
13.95% |
EBITDA Growth |
|
36.26% |
33.55% |
31.59% |
-37.82% |
-57.91% |
-58.16% |
-47.75% |
-39.93% |
-4.93% |
3.00% |
EBIT Growth |
|
44.47% |
42.41% |
40.23% |
-33.65% |
-54.59% |
-60.61% |
-50.27% |
-47.21% |
-14.71% |
5.29% |
NOPAT Growth |
|
42.02% |
38.53% |
36.56% |
-34.60% |
-56.50% |
-58.21% |
-52.98% |
-42.72% |
-13.34% |
7.45% |
Net Income Growth |
|
42.02% |
38.53% |
36.56% |
-34.60% |
-56.50% |
-58.21% |
-52.98% |
-42.72% |
-13.34% |
7.45% |
EPS Growth |
|
47.30% |
43.59% |
42.25% |
-32.41% |
-55.05% |
-57.14% |
-52.48% |
-42.47% |
-12.24% |
8.33% |
Operating Cash Flow Growth |
|
143.65% |
90.17% |
26.13% |
-87.20% |
-30.09% |
-90.11% |
-51.00% |
-83.05% |
-0.22% |
1,910.49% |
Free Cash Flow Firm Growth |
|
288.29% |
-679.45% |
-320.35% |
-525.60% |
-845.57% |
80.72% |
188.92% |
190.74% |
190.71% |
685.84% |
Invested Capital Growth |
|
-5.99% |
53.96% |
37.07% |
81.20% |
70.79% |
7.20% |
-21.71% |
-39.02% |
-36.26% |
-34.03% |
Revenue Q/Q Growth |
|
0.83% |
4.76% |
-4.34% |
-7.32% |
-2.83% |
-2.87% |
-2.19% |
6.63% |
0.04% |
9.21% |
EBITDA Q/Q Growth |
|
2.78% |
4.23% |
-15.31% |
-31.47% |
-30.42% |
3.60% |
5.78% |
-21.22% |
10.13% |
12.24% |
EBIT Q/Q Growth |
|
1.67% |
6.35% |
-15.45% |
-27.42% |
-30.42% |
-7.75% |
6.75% |
-22.95% |
12.41% |
13.88% |
NOPAT Q/Q Growth |
|
0.13% |
2.25% |
-10.81% |
-28.38% |
-33.40% |
-1.78% |
0.37% |
-12.76% |
0.76% |
21.79% |
Net Income Q/Q Growth |
|
0.13% |
2.25% |
-10.81% |
-28.38% |
-33.40% |
-1.78% |
0.37% |
-12.76% |
0.76% |
21.79% |
EPS Q/Q Growth |
|
0.93% |
2.75% |
-9.82% |
-27.72% |
-32.88% |
-2.04% |
0.00% |
-12.50% |
2.38% |
20.93% |
Operating Cash Flow Q/Q Growth |
|
-9.92% |
-62.39% |
192.99% |
-87.11% |
392.02% |
-94.68% |
1,352.05% |
-95.54% |
2,797.18% |
7.19% |
Free Cash Flow Firm Q/Q Growth |
|
-47.78% |
-644.90% |
21.88% |
-91.45% |
8.52% |
85.91% |
460.32% |
95.37% |
-8.55% |
-9.00% |
Invested Capital Q/Q Growth |
|
4.23% |
53.57% |
2.04% |
10.94% |
-1.76% |
-3.61% |
-25.48% |
-13.59% |
2.68% |
-0.23% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
48.35% |
48.11% |
42.59% |
31.49% |
22.55% |
24.05% |
26.01% |
19.22% |
21.16% |
21.74% |
EBIT Margin |
|
44.82% |
45.50% |
40.22% |
31.49% |
22.55% |
21.42% |
23.38% |
16.89% |
18.98% |
19.79% |
Profit (Net Income) Margin |
|
32.51% |
31.73% |
29.59% |
22.86% |
15.67% |
15.85% |
16.26% |
13.30% |
13.40% |
14.94% |
Tax Burden Percent |
|
72.53% |
69.74% |
73.57% |
72.59% |
69.48% |
73.98% |
69.56% |
78.77% |
70.60% |
75.50% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
27.47% |
30.26% |
26.43% |
27.41% |
30.52% |
26.02% |
30.44% |
21.23% |
29.40% |
24.50% |
Return on Invested Capital (ROIC) |
|
10.82% |
8.92% |
8.02% |
6.13% |
4.08% |
3.36% |
3.77% |
3.07% |
3.10% |
3.67% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
10.82% |
8.92% |
8.02% |
6.13% |
4.08% |
3.36% |
3.77% |
3.07% |
3.10% |
3.67% |
Return on Net Nonoperating Assets (RNNOA) |
|
3.54% |
5.33% |
5.71% |
4.24% |
2.92% |
3.16% |
2.54% |
2.00% |
1.96% |
2.07% |
Return on Equity (ROE) |
|
14.36% |
14.26% |
13.73% |
10.38% |
7.01% |
6.52% |
6.31% |
5.07% |
5.07% |
5.73% |
Cash Return on Invested Capital (CROIC) |
|
15.92% |
-33.88% |
-22.70% |
-49.89% |
-45.68% |
-2.44% |
28.47% |
52.00% |
47.69% |
44.55% |
Operating Return on Assets (OROA) |
|
1.70% |
1.78% |
1.58% |
1.23% |
0.86% |
0.77% |
0.80% |
0.57% |
0.63% |
0.67% |
Return on Assets (ROA) |
|
1.23% |
1.24% |
1.16% |
0.89% |
0.60% |
0.57% |
0.56% |
0.45% |
0.44% |
0.51% |
Return on Common Equity (ROCE) |
|
14.36% |
14.26% |
13.73% |
10.38% |
7.01% |
6.52% |
6.31% |
5.07% |
5.07% |
5.73% |
Return on Equity Simple (ROE_SIMPLE) |
|
13.29% |
0.00% |
14.26% |
12.78% |
10.88% |
0.00% |
6.72% |
5.70% |
5.32% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
20 |
21 |
18 |
13 |
8.76 |
8.60 |
8.63 |
7.53 |
7.59 |
9.24 |
NOPAT Margin |
|
32.51% |
31.73% |
29.59% |
22.86% |
15.67% |
15.85% |
16.26% |
13.30% |
13.40% |
14.94% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
43.92% |
42.23% |
46.68% |
54.06% |
54.55% |
54.80% |
63.22% |
63.01% |
64.79% |
62.92% |
Operating Expenses to Revenue |
|
54.21% |
51.52% |
57.34% |
65.56% |
66.97% |
69.32% |
75.44% |
76.20% |
78.86% |
77.40% |
Earnings before Interest and Taxes (EBIT) |
|
28 |
30 |
25 |
18 |
13 |
12 |
12 |
9.56 |
11 |
12 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
30 |
31 |
26 |
18 |
13 |
13 |
14 |
11 |
12 |
13 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.17 |
1.23 |
0.94 |
0.86 |
0.81 |
0.90 |
0.74 |
0.68 |
0.80 |
0.93 |
Price to Tangible Book Value (P/TBV) |
|
1.29 |
1.35 |
1.03 |
0.93 |
0.89 |
0.98 |
0.80 |
0.74 |
0.86 |
1.00 |
Price to Revenue (P/Rev) |
|
2.58 |
2.71 |
2.09 |
1.96 |
1.89 |
2.29 |
1.95 |
1.83 |
2.19 |
2.47 |
Price to Earnings (P/E) |
|
8.81 |
8.84 |
6.59 |
6.69 |
7.47 |
10.78 |
10.99 |
11.98 |
14.96 |
17.06 |
Dividend Yield |
|
0.60% |
0.55% |
0.68% |
0.75% |
0.79% |
0.68% |
0.83% |
0.88% |
0.73% |
0.63% |
Earnings Yield |
|
11.36% |
11.31% |
15.17% |
14.94% |
13.38% |
9.28% |
9.10% |
8.34% |
6.68% |
5.86% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.97 |
0.94 |
0.73 |
0.79 |
0.75 |
0.78 |
0.58 |
0.30 |
0.17 |
0.41 |
Enterprise Value to Revenue (EV/Rev) |
|
2.82 |
4.04 |
3.13 |
3.78 |
3.62 |
3.81 |
2.21 |
1.00 |
0.57 |
1.34 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
6.44 |
8.87 |
6.71 |
9.27 |
9.53 |
11.98 |
8.06 |
4.75 |
2.51 |
6.09 |
Enterprise Value to EBIT (EV/EBIT) |
|
7.06 |
9.56 |
7.14 |
9.27 |
10.22 |
13.02 |
8.92 |
4.75 |
2.81 |
6.78 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
9.64 |
13.18 |
9.88 |
12.88 |
14.31 |
17.93 |
12.48 |
6.54 |
3.86 |
9.24 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
5.87 |
8.23 |
6.16 |
10.03 |
10.61 |
12.50 |
9.73 |
4.77 |
2.71 |
4.29 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
5.90 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
1.80 |
0.44 |
0.27 |
0.74 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.32 |
0.96 |
0.92 |
1.09 |
1.08 |
0.92 |
0.43 |
0.23 |
0.22 |
0.22 |
Long-Term Debt to Equity |
|
0.26 |
0.25 |
0.24 |
0.24 |
0.24 |
0.23 |
0.23 |
0.23 |
0.22 |
0.22 |
Financial Leverage |
|
0.33 |
0.60 |
0.71 |
0.69 |
0.72 |
0.94 |
0.67 |
0.65 |
0.63 |
0.56 |
Leverage Ratio |
|
11.65 |
11.52 |
11.81 |
11.64 |
11.73 |
11.49 |
11.33 |
11.26 |
11.41 |
11.34 |
Compound Leverage Factor |
|
11.65 |
11.52 |
11.81 |
11.64 |
11.73 |
11.49 |
11.33 |
11.26 |
11.41 |
11.34 |
Debt to Total Capital |
|
24.28% |
49.02% |
47.98% |
52.26% |
51.93% |
47.92% |
30.27% |
18.49% |
18.01% |
18.06% |
Short-Term Debt to Total Capital |
|
4.75% |
36.30% |
35.51% |
41.01% |
40.47% |
36.03% |
14.31% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
19.52% |
12.72% |
12.47% |
11.25% |
11.46% |
11.89% |
15.97% |
18.49% |
18.01% |
18.06% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
75.72% |
50.98% |
52.02% |
47.74% |
48.07% |
52.08% |
69.73% |
81.51% |
81.99% |
81.94% |
Debt to EBITDA |
|
1.61 |
4.64 |
4.39 |
6.17 |
6.61 |
7.34 |
4.18 |
2.89 |
2.69 |
2.67 |
Net Debt to EBITDA |
|
0.56 |
2.92 |
2.23 |
4.45 |
4.56 |
4.78 |
0.96 |
-3.95 |
-7.22 |
-5.15 |
Long-Term Debt to EBITDA |
|
1.30 |
1.21 |
1.14 |
1.33 |
1.46 |
1.82 |
2.20 |
2.89 |
2.69 |
2.67 |
Debt to NOPAT |
|
2.41 |
6.90 |
6.47 |
8.57 |
9.93 |
10.99 |
6.46 |
3.98 |
4.13 |
4.05 |
Net Debt to NOPAT |
|
0.83 |
4.34 |
3.29 |
6.19 |
6.84 |
7.15 |
1.48 |
-5.44 |
-11.10 |
-7.82 |
Long-Term Debt to NOPAT |
|
1.94 |
1.79 |
1.68 |
1.84 |
2.19 |
2.73 |
3.41 |
3.98 |
4.13 |
4.05 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
63 |
-346 |
-270 |
-517 |
-473 |
-67 |
240 |
469 |
429 |
391 |
Operating Cash Flow to CapEx |
|
2,149.94% |
2,609.80% |
6,008.78% |
684.08% |
2,691.95% |
134.56% |
1,726.20% |
66.41% |
1,591.49% |
706.68% |
Free Cash Flow to Firm to Interest Expense |
|
6.69 |
-21.40 |
-10.19 |
-14.40 |
-11.27 |
-1.53 |
5.36 |
10.62 |
9.43 |
8.83 |
Operating Cash Flow to Interest Expense |
|
3.73 |
0.82 |
1.47 |
0.14 |
0.59 |
0.03 |
0.43 |
0.02 |
0.54 |
0.60 |
Operating Cash Flow Less CapEx to Interest Expense |
|
3.56 |
0.79 |
1.45 |
0.12 |
0.57 |
0.01 |
0.40 |
-0.01 |
0.51 |
0.51 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.04 |
0.04 |
0.04 |
0.04 |
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
Fixed Asset Turnover |
|
9.97 |
10.35 |
10.71 |
10.57 |
10.06 |
9.57 |
9.14 |
9.02 |
8.88 |
8.60 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
681 |
1,045 |
1,067 |
1,184 |
1,163 |
1,121 |
835 |
722 |
741 |
739 |
Invested Capital Turnover |
|
0.33 |
0.28 |
0.27 |
0.27 |
0.26 |
0.21 |
0.23 |
0.23 |
0.23 |
0.25 |
Increase / (Decrease) in Invested Capital |
|
-43 |
366 |
289 |
530 |
482 |
75 |
-232 |
-462 |
-422 |
-381 |
Enterprise Value (EV) |
|
660 |
979 |
782 |
930 |
870 |
876 |
488 |
219 |
125 |
305 |
Market Capitalization |
|
603 |
656 |
522 |
483 |
455 |
527 |
430 |
402 |
484 |
563 |
Book Value per Share |
|
$28.34 |
$29.74 |
$31.13 |
$31.36 |
$31.25 |
$32.76 |
$32.81 |
$33.11 |
$34.37 |
$34.45 |
Tangible Book Value per Share |
|
$25.72 |
$27.10 |
$28.50 |
$28.78 |
$28.66 |
$30.17 |
$30.23 |
$30.56 |
$31.81 |
$31.90 |
Total Capital |
|
681 |
1,045 |
1,067 |
1,184 |
1,163 |
1,121 |
835 |
722 |
741 |
739 |
Total Debt |
|
165 |
513 |
512 |
618 |
604 |
537 |
253 |
133 |
133 |
134 |
Total Long-Term Debt |
|
133 |
133 |
133 |
133 |
133 |
133 |
133 |
133 |
133 |
134 |
Net Debt |
|
57 |
322 |
261 |
447 |
416 |
349 |
58 |
-182 |
-359 |
-258 |
Capital Expenditures (CapEx) |
|
1.65 |
0.51 |
0.65 |
0.74 |
0.92 |
0.98 |
1.11 |
1.28 |
1.55 |
3.74 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
165 |
513 |
512 |
618 |
604 |
537 |
253 |
133 |
133 |
134 |
Total Depreciation and Amortization (D&A) |
|
2.19 |
1.69 |
1.47 |
0.00 |
0.00 |
1.43 |
1.40 |
1.32 |
1.23 |
1.21 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.11 |
$1.15 |
$1.03 |
$0.73 |
$0.49 |
$0.49 |
$0.49 |
$0.42 |
$0.43 |
$0.53 |
Adjusted Weighted Average Basic Shares Outstanding |
|
18.07M |
17.83M |
17.84M |
17.93M |
17.86M |
17.75M |
17.71M |
17.75M |
17.62M |
17.60M |
Adjusted Diluted Earnings per Share |
|
$1.09 |
$1.12 |
$1.01 |
$0.73 |
$0.49 |
$0.48 |
$0.48 |
$0.42 |
$0.43 |
$0.52 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
18.42M |
17.83M |
18.26M |
18.08M |
18.01M |
17.75M |
17.81M |
17.79M |
17.70M |
17.60M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
17.92M |
17.83M |
18.02M |
17.89M |
17.82M |
17.75M |
17.77M |
17.68M |
17.59M |
17.60M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
20 |
21 |
18 |
13 |
8.76 |
8.60 |
8.63 |
7.53 |
7.59 |
9.24 |
Normalized NOPAT Margin |
|
32.51% |
31.73% |
29.59% |
22.86% |
15.67% |
15.85% |
16.26% |
13.30% |
13.40% |
14.94% |
Pre Tax Income Margin |
|
44.82% |
45.50% |
40.22% |
31.49% |
22.55% |
21.42% |
23.38% |
16.89% |
18.98% |
19.79% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.92 |
1.83 |
0.94 |
0.50 |
0.30 |
0.27 |
0.28 |
0.22 |
0.24 |
0.28 |
NOPAT to Interest Expense |
|
2.12 |
1.27 |
0.69 |
0.37 |
0.21 |
0.20 |
0.19 |
0.17 |
0.17 |
0.21 |
EBIT Less CapEx to Interest Expense |
|
2.75 |
1.79 |
0.92 |
0.48 |
0.28 |
0.24 |
0.25 |
0.19 |
0.20 |
0.19 |
NOPAT Less CapEx to Interest Expense |
|
1.95 |
1.24 |
0.67 |
0.35 |
0.19 |
0.18 |
0.17 |
0.14 |
0.13 |
0.12 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
5.37% |
4.91% |
4.56% |
4.96% |
5.86% |
7.28% |
9.10% |
10.62% |
10.97% |
10.70% |
Augmented Payout Ratio |
|
58.99% |
48.98% |
35.38% |
36.35% |
31.45% |
32.86% |
39.94% |
39.04% |
39.72% |
32.49% |
Key Financial Trends
Peapack-Gladstone Financial Corp (NASDAQ: PGC) has demonstrated solid financial performance over the last four years, with consistent growth in key areas such as net interest income, total revenue, and net income. Here's a summary of important trends and key financial highlights based on the quarterly reports for the past four years up to Q4 2024:
- Steady growth in loans and leases interest income, rising from approximately $50.9 million in Q3 2022 to about $73.5 million in Q4 2024, indicating strong loan portfolio growth and interest income generation.
- Net interest income has increased from around $45.5 million in Q3 2022 to $41.9 million in Q4 2024, with some quarterly fluctuations but maintaining a strong stream of interest-based revenue.
- Total non-interest income also shows growth, reaching $19.9 million in Q4 2024 from $16.4 million in Q3 2022, signaling diversification of revenue streams beyond interest income.
- Net income attributable to common shareholders has increased significantly, from about $20.1 million in Q3 2022 up to $9.24 million in Q4 2024 for just the quarter, indicating ongoing profitability and earnings growth.
- Diluted earnings per share (EPS) rose from $1.09 in Q3 2022 to $0.52 in Q4 2024 quarterly results (adjusted for different quarters), showing an improvement in profitability on a per-share basis across the period.
- Provision for credit losses has fluctuated, increasing notably in earlier years and moderating in 2024, reflecting changing credit risk environments and the company's management of loan loss reserves.
- Total non-interest expenses, including salaries and employee benefits, have increased from $33.5 million in Q3 2022 to $47.9 million by Q4 2024, indicating rising operating costs which management needs to control for sustained profitability.
- Investing activities show significant purchases and sales of securities and property/equipment, with net cash from investing activities deeply negative in recent quarters (e.g., -$321.7 million in Q4 2024), indicative of ongoing capital expenditures and investment in the loan portfolio or securities.
- Cash interest paid has increased from around $37 million in Q3 2022 to $46 million in Q4 2024, which may pressure net interest margins if not offset by higher interest income.
- Total liabilities have consistently grown, reaching about $6.19 billion by Q3 2024, driven by increases in interest-bearing deposits and other debts, which may raise leverage risk and necessitate careful balance sheet management.
Overall, Peapack-Gladstone Financial has shown a positive trajectory in revenue generation and profitability over the last four years. The company has expanded its loan book and diversified revenue streams, while also investing heavily in assets and managing operational costs. Investors should watch the increasing interest expenses and operating costs for potential margin impact, alongside the provision for credit losses, which could fluctuate with economic conditions.
08/08/25 07:32 PMAI Generated. May Contain Errors.