Peapack-Gladstone Financial (NASDAQ:PGC) Issues Quarterly Earnings Results

Peapack-Gladstone Financial (NASDAQ:PGC) issued its earnings results on Tuesday. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06, Yahoo Finance reports. Peapack-Gladstone Financial had a net margin of 8.50% and a return on equity of 5.91%.

Peapack-Gladstone Financial Stock Performance

PGC traded up $1.02 during trading on Wednesday, hitting $29.99. The stock had a trading volume of 2,565 shares, compared to its average volume of 93,060. The firm has a market cap of $530.22 million, a PE ratio of 15.49 and a beta of 0.99. Peapack-Gladstone Financial has a 12 month low of $20.30 and a 12 month high of $30.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $27.43 and a 200-day simple moving average of $24.89.

Insider Activity at Peapack-Gladstone Financial

In other news, EVP John P. Babcock sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $26.89, for a total transaction of $268,900.00. Following the sale, the executive vice president now directly owns 52,155 shares in the company, valued at approximately $1,402,447.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.63% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Peapack-Gladstone Financial in a research note on Monday, July 29th.

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.