Peapack-Gladstone Financial (NASDAQ:PGC) Reaches New 1-Year High – Time to Buy?

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) reached a new 52-week high on Tuesday . The stock traded as high as $43.22 and last traded at $43.0640, with a volume of 37387 shares. The stock had previously closed at $41.60.

Analyst Ratings Changes

Several research firms have recently weighed in on PGC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Peapack-Gladstone Financial in a report on Thursday, January 22nd. Piper Sandler raised their price objective on shares of Peapack-Gladstone Financial from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Peapack-Gladstone Financial Trading Up 3.3%

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The firm has a market cap of $755.03 million, a price-to-earnings ratio of 17.33 and a beta of 0.72. The business’s fifty day moving average is $36.21 and its two-hundred day moving average is $31.37.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.14. Peapack-Gladstone Financial had a net margin of 9.60% and a return on equity of 6.82%. The business had revenue of $82.49 million during the quarter, compared to analyst estimates of $79.17 million. Equities analysts anticipate that Peapack-Gladstone Financial Corporation will post 3.66 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is presently 8.06%.

Insider Transactions at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP Maureen Hemhauser sold 5,272 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $35.59, for a total value of $187,630.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.75% of the company’s stock.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oppenheimer & Close LLC bought a new position in Peapack-Gladstone Financial in the third quarter valued at approximately $1,083,000. Salzhauer Michael boosted its stake in Peapack-Gladstone Financial by 5.7% in the fourth quarter. Salzhauer Michael now owns 269,242 shares of the financial services provider’s stock valued at $7,498,000 after acquiring an additional 14,612 shares during the last quarter. AlphaQuest LLC boosted its stake in Peapack-Gladstone Financial by 8.8% in the third quarter. AlphaQuest LLC now owns 12,597 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 1,017 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in Peapack-Gladstone Financial by 337.1% in the third quarter. KLP Kapitalforvaltning AS now owns 15,300 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 11,800 shares during the last quarter. Finally, CWM LLC boosted its stake 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 acquiring an additional 5,683 shares during the last quarter. 72.75% of the stock is owned by institutional investors.

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.