Peapack-Gladstone Financial (NASDAQ:PGC) Cut to Strong Sell at BidaskClub

BidaskClub cut shares of Peapack-Gladstone Financial (NASDAQ:PGC) from a sell rating to a strong sell rating in a report issued on Friday, September 14th.

Separately, FIG Partners reaffirmed an outperform rating on shares of Peapack-Gladstone Financial in a report on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Peapack-Gladstone Financial has a consensus rating of Hold and a consensus price target of $38.75.

Shares of Peapack-Gladstone Financial stock traded down $0.51 during mid-day trading on Friday, hitting $30.37. 26,644 shares of the stock were exchanged, compared to its average volume of 67,320. Peapack-Gladstone Financial has a 12 month low of $30.18 and a 12 month high of $38.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31. The stock has a market cap of $587.26 million, a P/E ratio of 15.65 and a beta of 0.83.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Friday, July 27th. The financial services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $40.89 million. On average, equities analysts anticipate that Peapack-Gladstone Financial will post 2.42 EPS for the current year.

Several large investors have recently bought and sold shares of the stock. Alpine Woods Capital Investors LLC bought a new stake in Peapack-Gladstone Financial during the 1st quarter valued at $284,000. Engineers Gate Manager LP purchased a new position in shares of Peapack-Gladstone Financial during the 2nd quarter valued at $293,000. Citigroup Inc. grew its position in shares of Peapack-Gladstone Financial by 32.8% during the 1st quarter. Citigroup Inc. now owns 10,367 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 2,558 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Peapack-Gladstone Financial during the 1st quarter valued at $355,000. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Peapack-Gladstone Financial during the 2nd quarter valued at $356,000. 72.05% of the stock is currently owned by 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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