Peapack-Gladstone Financial (NASDAQ:PGC) Given New $28.00 Price Target at Keefe, Bruyette & Woods

Peapack-Gladstone Financial (NASDAQ:PGC) had its price objective lowered by Keefe, Bruyette & Woods from $29.00 to $28.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Separately, Piper Sandler lowered shares of Peapack-Gladstone Financial from an overweight rating to a neutral rating in a research note on Wednesday, April 24th.

Peapack-Gladstone Financial Trading Up 7.5 %

PGC stock opened at $23.84 on Tuesday. The company’s 50-day simple moving average is $22.17 and its 200-day simple moving average is $24.22. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.23. Peapack-Gladstone Financial has a 52-week low of $20.30 and a 52-week high of $31.49. The firm has a market cap of $423.64 million, a P/E ratio of 10.94 and a beta of 0.99.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $53.08 million for the quarter, compared to analysts’ expectations of $53.69 million. Peapack-Gladstone Financial had a return on equity of 7.23% and a net margin of 10.11%. As a group, equities analysts forecast that Peapack-Gladstone Financial will post 1.74 EPS for the current fiscal year.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP Stuart M. Vorcheimer sold 4,608 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $24.09, for a total value of $111,006.72. Following the transaction, the executive vice president now directly owns 2,205 shares of the company’s stock, valued at approximately $53,118.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PGC. American Century Companies Inc. lifted its stake in Peapack-Gladstone Financial by 12.5% in the 3rd quarter. American Century Companies Inc. now owns 173,958 shares of the financial services provider’s stock worth $4,462,000 after purchasing an additional 19,346 shares in the last quarter. Wellington Management Group LLP lifted its stake in Peapack-Gladstone Financial by 22.6% in the 3rd quarter. Wellington Management Group LLP now owns 540,095 shares of the financial services provider’s stock worth $13,853,000 after purchasing an additional 99,700 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Peapack-Gladstone Financial by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 876,954 shares of the financial services provider’s stock worth $22,494,000 after buying an additional 11,345 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Peapack-Gladstone Financial by 31.5% during the 4th quarter. SG Americas Securities LLC now owns 11,558 shares of the financial services provider’s stock worth $345,000 after buying an additional 2,768 shares during the last quarter. Finally, Strs Ohio increased its holdings in shares of Peapack-Gladstone Financial by 15.7% during the 4th quarter. Strs Ohio now owns 21,400 shares of the financial services provider’s stock worth $638,000 after buying an additional 2,900 shares during the last quarter. 72.75% 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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.