Peapack-Gladstone Financial (NASDAQ:PGC) Price Target Raised to $41.00 at Piper Sandler

Peapack-Gladstone Financial (NASDAQ:PGC) had its price objective boosted by Piper Sandler from $39.00 to $41.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 14.80% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods increased their target price on Peapack-Gladstone Financial from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.00.

Peapack-Gladstone Financial Stock Performance

Shares of NASDAQ:PGC traded down $0.04 during midday trading on Thursday, hitting $35.72. The stock had a trading volume of 18,775 shares, compared to its average volume of 131,052. Peapack-Gladstone Financial has a 1 year low of $23.96 and a 1 year high of $36.03. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $33.60 and a two-hundred day moving average price of $29.75. The company has a market capitalization of $627.55 million, a PE ratio of 16.91 and a beta of 0.70.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. The firm had revenue of $77.67 million during the quarter. Peapack-Gladstone Financial had a net margin of 8.40% and a return on equity of 5.85%. As a group, equities analysts predict that Peapack-Gladstone Financial will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Peapack-Gladstone Financial news, EVP Maureen Hemhauser sold 5,272 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $35.59, for a total transaction of $187,630.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.75% of the company’s stock.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in shares of Peapack-Gladstone Financial by 431.5% in the 4th quarter. State of Alaska Department of Revenue now owns 3,768 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 3,059 shares during the period. Aquatic Capital Management LLC boosted its position in Peapack-Gladstone Financial by 23.1% during the third quarter. Aquatic Capital Management LLC now owns 5,240 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 985 shares in the last quarter. CWM LLC grew its holdings in Peapack-Gladstone Financial by 622.5% in the third quarter. CWM LLC now owns 6,596 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 5,683 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Peapack-Gladstone Financial by 68.0% in the third quarter. Quantbot Technologies LP now owns 7,381 shares of the financial services provider’s stock valued at $204,000 after buying an additional 2,987 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Peapack-Gladstone Financial during the 4th quarter worth $206,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.