Peapack-Gladstone Financial (NASDAQ:PGC) Upgraded to Hold by BidaskClub

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BidaskClub upgraded shares of Peapack-Gladstone Financial (NASDAQ:PGC) from a sell rating to a hold rating in a research note published on Tuesday morning, BidAskClub reports.

Separately, Zacks Investment Research downgraded GasLog Partners LP Unit from a hold rating to a strong sell rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $36.50.

NASDAQ:PGC opened at $28.59 on Tuesday. The business’s 50-day simple moving average is $27.97. The firm has a market cap of $546.83 million, a PE ratio of 12.17, a P/E/G ratio of 2.31 and a beta of 1.03. Peapack-Gladstone Financial has a 1 year low of $23.96 and a 1 year high of $35.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Friday, April 26th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Peapack-Gladstone Financial had a return on equity of 9.73% and a net margin of 21.04%. The business had revenue of $41.74 million during the quarter, compared to analysts’ expectations of $41.58 million. As a group, research analysts forecast that Peapack-Gladstone Financial will post 2.35 EPS for the current fiscal year.

In other news, EVP Vincent A. Spero sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $27.32, for a total value of $81,960.00. Following the completion of the sale, the executive vice president now directly owns 46,029 shares of the company’s stock, valued at approximately $1,257,512.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John P. Babcock sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $28.30, for a total value of $56,600.00. Following the completion of the sale, the executive vice president now directly owns 45,620 shares of the company’s stock, valued at $1,291,046. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock valued at $280,360 over the last three months. Company insiders own 4.13% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Peapack-Gladstone Financial by 422.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,331 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 1,076 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Peapack-Gladstone Financial by 78,720.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,941 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 3,936 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Peapack-Gladstone Financial during the 1st quarter valued at approximately $120,000. Metropolitan Life Insurance Co. NY raised its stake in Peapack-Gladstone Financial by 337.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,590 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 4,312 shares during the last quarter. Finally, Teton Advisors Inc. purchased a new stake in Peapack-Gladstone Financial during the 1st quarter valued at approximately $210,000. 71.57% of the stock is owned by hedge funds and other institutional investors.

Peapack-Gladstone Financial Company Profile

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: Balance Sheet

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