Peapack-Gladstone Financial (PGC) Hits New 12-Month Low at $30.06

Peapack-Gladstone Financial Co. (NASDAQ:PGC) reached a new 52-week low during trading on Monday . The company traded as low as $30.06 and last traded at $30.18, with a volume of 1343 shares traded. The stock had previously closed at $30.37.

PGC has been the subject of a number of research analyst reports. BidaskClub raised shares of Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. FIG Partners reaffirmed an “outperform” rating on shares of Peapack-Gladstone Financial in a research report on Tuesday, July 24th. ValuEngine downgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Zacks Investment Research downgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $38.75.

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $587.26 million, a PE ratio of 15.58 and a beta of 0.83.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Peapack-Gladstone Financial had a net margin of 22.54% and a return on equity of 10.15%. The firm had revenue of $40.98 million during the quarter, compared to the consensus estimate of $40.89 million. As a group, equities analysts anticipate that Peapack-Gladstone Financial Co. will post 2.42 earnings per share for the current year.

Several hedge funds have recently modified their holdings of PGC. Wells Fargo & Company MN grew its position in shares of Peapack-Gladstone Financial by 9.7% during the 1st quarter. Wells Fargo & Company MN now owns 26,935 shares of the financial services provider’s stock valued at $899,000 after acquiring an additional 2,386 shares during the period. Swiss National Bank grew its position in shares of Peapack-Gladstone Financial by 6.4% during the 1st quarter. Swiss National Bank now owns 26,500 shares of the financial services provider’s stock valued at $885,000 after acquiring an additional 1,600 shares during the period. Northern Trust Corp grew its position in shares of Peapack-Gladstone Financial by 2.2% during the 1st quarter. Northern Trust Corp now owns 227,346 shares of the financial services provider’s stock valued at $7,591,000 after acquiring an additional 4,879 shares during the period. BlackRock Inc. grew its position in shares of Peapack-Gladstone Financial by 1.3% during the 1st quarter. BlackRock Inc. now owns 1,081,067 shares of the financial services provider’s stock valued at $36,098,000 after acquiring an additional 14,273 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Peapack-Gladstone Financial by 66.9% during the 1st quarter. JPMorgan Chase & Co. now owns 16,350 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 6,556 shares during the period. 72.05% of the stock is owned by hedge funds and other institutional investors.

Peapack-Gladstone Financial Company Profile (NASDAQ:PGC)

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

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