Peapack-Gladstone Financial Co. (PGC) Receives $37.50 Consensus Target Price from Brokerages
Peapack-Gladstone Financial Co. (NASDAQ:PGC) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $37.50.
A number of analysts recently commented on PGC shares. BidaskClub downgraded shares of Peapack-Gladstone Financial from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Zacks Investment Research downgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 14th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $36.00 target price on shares of Peapack-Gladstone Financial in a report on Wednesday, October 31st. Finally, ValuEngine downgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a report on Thursday, September 27th.
In other news, CEO Douglas L. Kennedy purchased 1,000 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were acquired at an average price of $27.96 per share, for a total transaction of $27,960.00. Following the completion of the acquisition, the chief executive officer now directly owns 100,049 shares of the company’s stock, valued at $2,797,370.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey J. Carfora purchased 1,500 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $28.21 per share, for a total transaction of $42,315.00. Following the acquisition, the chief financial officer now directly owns 81,116 shares of the company’s stock, valued at $2,288,282.36. The disclosure for this purchase can be found here. 4.84% of the stock is owned by insiders.
Shares of PGC stock traded down $0.21 during midday trading on Friday, reaching $26.37. 67,700 shares of the company were exchanged, compared to its average volume of 68,650. Peapack-Gladstone Financial has a 12 month low of $23.96 and a 12 month high of $38.00. The company has a market capitalization of $514.06 million, a price-to-earnings ratio of 13.59 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.37.
Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings results on Friday, October 26th. The financial services provider reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.03). Peapack-Gladstone Financial had a return on equity of 9.83% and a net margin of 22.25%. The company had revenue of $39.13 million for the quarter, compared to the consensus estimate of $42.08 million. On average, equities research analysts predict that Peapack-Gladstone Financial will post 2.37 earnings per share for the current year.
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.
See Also: Net Income
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