Peapack-Gladstone Financial (PGC) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Peapack-Gladstone Financial (NASDAQ:PGC) from a sell rating to a strong sell rating in a research report report published on Friday, September 14th.

Separately, FIG Partners reaffirmed an outperform rating on shares of Peapack-Gladstone Financial in a research note on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $38.75.

PGC stock traded down $0.14 during midday trading on Friday, hitting $30.23. The stock had a trading volume of 73,400 shares, compared to its average volume of 67,351. Peapack-Gladstone Financial has a 1-year low of $30.06 and a 1-year high of $38.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31. The firm has a market cap of $587.26 million, a price-to-earnings ratio of 15.58 and a beta of 0.83.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Peapack-Gladstone Financial had a net margin of 22.54% and a return on equity of 10.15%. The firm had revenue of $40.98 million during the quarter, compared to the consensus estimate of $40.89 million. Research analysts expect that Peapack-Gladstone Financial will post 2.42 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in PGC. Dimensional Fund Advisors LP boosted its holdings in Peapack-Gladstone Financial by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 959,595 shares of the financial services provider’s stock worth $33,192,000 after purchasing an additional 124,523 shares during the last quarter. BlackRock Inc. boosted its holdings in Peapack-Gladstone Financial by 9.2% during the second quarter. BlackRock Inc. now owns 1,180,069 shares of the financial services provider’s stock worth $40,819,000 after purchasing an additional 99,002 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Peapack-Gladstone Financial by 163.7% during the second quarter. Federated Investors Inc. PA now owns 120,860 shares of the financial services provider’s stock worth $4,181,000 after purchasing an additional 75,030 shares during the last quarter. Boston Partners boosted its holdings in Peapack-Gladstone Financial by 14.5% during the second quarter. Boston Partners now owns 492,097 shares of the financial services provider’s stock worth $17,022,000 after purchasing an additional 62,339 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Peapack-Gladstone Financial by 24.7% during the first quarter. Millennium Management LLC now owns 295,621 shares of the financial services provider’s stock worth $9,871,000 after purchasing an additional 58,513 shares during the last quarter. Institutional investors and hedge funds own 72.05% 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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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