Peapack-Gladstone Financial (NASDAQ:PGC) Announces Earnings Results, Beats Estimates By $0.07 EPS

Peapack-Gladstone Financial (NASDAQ:PGC) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07, Zacks reports. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.55%.

Peapack-Gladstone Financial Stock Performance

Peapack-Gladstone Financial stock opened at $32.34 on Thursday. The business has a 50 day moving average of $33.58 and a 200-day moving average of $30.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. Peapack-Gladstone Financial has a 1 year low of $20.30 and a 1 year high of $37.88. The company has a market capitalization of $568.54 million, a P/E ratio of 17.87 and a beta of 1.00.

Insiders Place Their Bets

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of Peapack-Gladstone Financial stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $32.29, for a total transaction of $96,870.00. Following the transaction, the executive vice president now directly owns 49,155 shares of the company’s stock, valued at approximately $1,587,214.95. The trade was a 5.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PGC has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $30.00 to $35.00 in a research report on Wednesday, October 23rd.

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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.