Peapack-Gladstone Financial (PGC) Rating Increased to Sell at BidaskClub

Peapack-Gladstone Financial (NASDAQ:PGC) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday, March 28th, BidAskClub reports.

Other research analysts have also issued research reports about the company. FIG Partners lowered Peapack-Gladstone Financial from an “outperform” rating to a “market perform” rating in a report on Monday, January 28th. Zacks Investment Research upgraded Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Gabelli began coverage on Peapack-Gladstone Financial in a report on Monday, February 11th. They set a “buy” rating and a $37.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $36.50.

Shares of NASDAQ PGC traded down $0.43 during trading on Thursday, hitting $27.02. 34,290 shares of the company were exchanged, compared to its average volume of 62,546. Peapack-Gladstone Financial has a 12-month low of $23.96 and a 12-month high of $36.88. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.41. The firm has a market cap of $522.81 million, a PE ratio of 11.70, a P/E/G ratio of 2.19 and a beta of 1.05.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings results on Friday, January 25th. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). Peapack-Gladstone Financial had a return on equity of 9.91% and a net margin of 21.67%. The company had revenue of $40.64 million for the quarter, compared to analysts’ expectations of $41.58 million. Research analysts expect that Peapack-Gladstone Financial will post 2.37 EPS for the current year.

Large investors have recently modified their holdings of the stock. Boston Partners grew its position in Peapack-Gladstone Financial by 46.0% in the 4th quarter. Boston Partners now owns 803,065 shares of the financial services provider’s stock valued at $20,221,000 after acquiring an additional 253,125 shares in the last quarter. Basswood Capital Management L.L.C. grew its position in shares of Peapack-Gladstone Financial by 13.0% during the fourth quarter. Basswood Capital Management L.L.C. now owns 1,057,398 shares of the financial services provider’s stock worth $26,625,000 after buying an additional 121,916 shares in the last quarter. Seidman Lawrence B acquired a new position in shares of Peapack-Gladstone Financial during the fourth quarter worth about $2,518,000. Dimensional Fund Advisors LP grew its position in shares of Peapack-Gladstone Financial by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,126,448 shares of the financial services provider’s stock worth $28,364,000 after buying an additional 83,659 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new position in shares of Peapack-Gladstone Financial during the fourth quarter worth about $1,763,000. 72.06% of the stock is owned by hedge funds and other institutional investors.

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 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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