Peapack-Gladstone Financial (NASDAQ:PGC – Get Free Report)‘s stock had its “outperform” rating reissued by research analysts at Keefe, Bruyette & Woods in a note issued to investors on Monday, Benzinga reports. They presently have a $32.00 target price on the financial services provider’s stock, up from their previous target price of $28.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 12.99% from the stock’s previous close.
Separately, Piper Sandler lowered Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a report on Wednesday, April 24th.
Get Our Latest Stock Analysis on Peapack-Gladstone Financial
Peapack-Gladstone Financial Trading Down 1.8 %
Peapack-Gladstone Financial (NASDAQ:PGC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $100.79 million for the quarter, compared to the consensus estimate of $56.80 million. Peapack-Gladstone Financial had a return on equity of 5.94% and a net margin of 8.50%. On average, research analysts anticipate that Peapack-Gladstone Financial will post 1.68 EPS for the current year.
Insider Activity at Peapack-Gladstone Financial
In other Peapack-Gladstone Financial news, EVP Stuart M. Vorcheimer sold 4,608 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $24.09, for a total transaction of $111,006.72. Following the sale, the executive vice president now owns 2,205 shares in the company, valued at approximately $53,118.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.63% of the stock is owned by insiders.
Hedge Funds Weigh In On Peapack-Gladstone Financial
A number of institutional investors have recently modified their holdings of PGC. Boston Partners lifted its position in shares of Peapack-Gladstone Financial by 1.6% during the 1st quarter. Boston Partners now owns 762,659 shares of the financial services provider’s stock valued at $18,339,000 after buying an additional 12,226 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Peapack-Gladstone Financial by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,423 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 628 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Peapack-Gladstone Financial by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 903,093 shares of the financial services provider’s stock worth $21,972,000 after purchasing an additional 9,991 shares during the last quarter. Empowered Funds LLC increased its stake in Peapack-Gladstone Financial by 8.0% during the 1st quarter. Empowered Funds LLC now owns 51,786 shares of the financial services provider’s stock worth $1,260,000 after buying an additional 3,850 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Peapack-Gladstone Financial by 90.4% during the 1st quarter. BNP Paribas Financial Markets now owns 8,399 shares of the financial services provider’s stock worth $204,000 after buying an additional 3,987 shares in the last quarter. 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.
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