Keefe, Bruyette & Woods Trims Peapack-Gladstone Financial (NASDAQ:PGC) Target Price to $29.00

Peapack-Gladstone Financial (NASDAQ:PGC) had its price objective decreased by equities research analysts at Keefe, Bruyette & Woods from $30.50 to $29.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 29.58% from the company’s previous close.

A number of other equities research analysts have also recently commented on PGC. Piper Sandler cut shares of Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 24th. TheStreet cut shares of Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a research note on Friday, February 23rd.

Peapack-Gladstone Financial Stock Performance

NASDAQ PGC remained flat at $22.38 during trading hours on Thursday. 8,174 shares of the company were exchanged, compared to its average volume of 84,734. The company has a market cap of $397.25 million, a PE ratio of 10.28 and a beta of 0.99. Peapack-Gladstone Financial has a 12-month low of $21.58 and a 12-month high of $31.49. The business’s fifty day moving average price is $23.58 and its 200-day moving average price is $25.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98.

Institutional Trading of Peapack-Gladstone Financial

A number of hedge funds have recently made changes to their positions in PGC. SG Americas Securities LLC increased its stake in shares of Peapack-Gladstone Financial by 133.8% in the third quarter. SG Americas Securities LLC now owns 8,790 shares of the financial services provider’s stock worth $225,000 after buying an additional 5,031 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Peapack-Gladstone Financial by 4.1% in the third quarter. Brown Advisory Inc. now owns 531,705 shares of the financial services provider’s stock worth $13,638,000 after purchasing an additional 20,747 shares during the period. Assenagon Asset Management S.A. acquired a new position in Peapack-Gladstone Financial in the third quarter worth $1,676,000. Quantbot Technologies LP acquired a new position in shares of Peapack-Gladstone Financial during the third quarter valued at $25,000. Finally, Swiss National Bank boosted its holdings in shares of Peapack-Gladstone Financial by 2.6% during the third quarter. Swiss National Bank now owns 35,700 shares of the financial services provider’s stock valued at $916,000 after acquiring an additional 900 shares during the period. Hedge funds and other institutional investors 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.