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

Peapack-Gladstone Financial (NASDAQ:PGCGet Free Report) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating 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 Down 1.2 %

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

Insiders Place Their Bets

In other news, EVP John P. Babcock sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $32.29, for a total transaction of $96,870.00. Following the sale, the executive vice president now owns 49,155 shares in the company, valued at $1,587,214.95. This represents a 5.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 7.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PGC shares. Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $35.00 in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price objective on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Get Our Latest Analysis on Peapack-Gladstone Financial

Peapack-Gladstone Financial Company Profile

(Get Free Report)

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.

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Earnings History for Peapack-Gladstone Financial (NASDAQ:PGC)

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