Peapack-Gladstone Financial (NASDAQ:PGC – Free Report) had its target price lowered by Keefe, Bruyette & Woods from $29.00 to $28.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.
Separately, Piper Sandler lowered Peapack-Gladstone Financial from an overweight rating to a neutral rating in a report on Wednesday, April 24th.
Check Out Our Latest Report on Peapack-Gladstone Financial
Peapack-Gladstone Financial Stock Up 7.5 %
Peapack-Gladstone Financial (NASDAQ:PGC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $53.08 million during 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 research analysts anticipate that Peapack-Gladstone Financial will post 1.74 EPS for the current fiscal year.
Insider Activity
In other news, EVP Stuart M. Vorcheimer sold 4,608 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was 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 in the company, valued at $53,118.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.63% of the company’s stock.
Institutional Investors Weigh In On Peapack-Gladstone Financial
Large investors have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in Peapack-Gladstone Financial by 12.5% during the third quarter. American Century Companies Inc. now owns 173,958 shares of the financial services provider’s stock worth $4,462,000 after acquiring an additional 19,346 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Peapack-Gladstone Financial by 22.6% during the third quarter. Wellington Management Group LLP now owns 540,095 shares of the financial services provider’s stock valued at $13,853,000 after buying an additional 99,700 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Peapack-Gladstone Financial by 1.3% during the third quarter. Vanguard Group Inc. now owns 876,954 shares of the financial services provider’s stock valued at $22,494,000 after buying an additional 11,345 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Peapack-Gladstone Financial by 31.5% during the fourth quarter. SG Americas Securities LLC now owns 11,558 shares of the financial services provider’s stock valued at $345,000 after buying an additional 2,768 shares during the last quarter. Finally, Strs Ohio grew its stake in shares of Peapack-Gladstone Financial by 15.7% during the fourth quarter. Strs Ohio now owns 21,400 shares of the financial services provider’s stock valued at $638,000 after buying an additional 2,900 shares during the last quarter. 72.75% of the stock is 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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.
Further Reading
- Five stocks we like better than Peapack-Gladstone Financial
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Sales Breakout Sends This Semiconductor Stock to Record High
- Are Penny Stocks a Good Fit for Your Portfolio?
- Surprise Buying Opportunity on This Dividend Aristocrat
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- New Theme Park Powerhouse: Merger Creates Industry-Leading Stock
Receive News & Ratings for Peapack-Gladstone Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peapack-Gladstone Financial and related companies with MarketBeat.com's FREE daily email newsletter.