Peapack-Gladstone Financial (NASDAQ:PGC) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Peapack-Gladstone Financial (NASDAQ:PGC) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06, Yahoo Finance reports. Peapack-Gladstone Financial had a return on equity of 5.60% and a net margin of 8.12%. The business had revenue of $102.14 million for the quarter, compared to analyst estimates of $58.24 million.

Peapack-Gladstone Financial Trading Up 1.8 %

Shares of PGC stock traded up $0.55 on Thursday, hitting $31.75. The company had a trading volume of 81,165 shares, compared to its average volume of 52,287. The stock’s 50-day moving average is $27.67 and its two-hundred day moving average is $24.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $561.34 million, a P/E ratio of 17.54 and a beta of 0.99. Peapack-Gladstone Financial has a twelve month low of $20.30 and a twelve month high of $32.22.

Peapack-Gladstone Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is presently 11.05%.

Analyst Ratings Changes

Several analysts have recently weighed in on PGC shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $32.00 price target (up from $28.00) on shares of Peapack-Gladstone Financial in a report on Monday, July 29th. Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $35.00 in a report on Wednesday.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $26.89, for a total transaction of $268,900.00. Following the completion of the transaction, the executive vice president now owns 52,155 shares in the company, valued at approximately $1,402,447.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.63% of the stock is currently owned by company insiders.

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.