Peapack-Gladstone Financial (PGC) Projected to Post Earnings on Thursday

Peapack-Gladstone Financial (NASDAQ:PGC) will likely be announcing its earnings results before the market opens on Thursday, January 23rd. Analysts expect Peapack-Gladstone Financial to post earnings of $0.45 per share and revenue of $60,480.00 billion for the quarter.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.55%. The firm had revenue of $102.14 million for the quarter, compared to analyst estimates of $58.24 million. On average, analysts expect Peapack-Gladstone Financial to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Peapack-Gladstone Financial Stock Performance

NASDAQ PGC opened at $32.12 on Wednesday. The company has a market capitalization of $564.83 million, a P/E ratio of 17.75 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. Peapack-Gladstone Financial has a 52-week low of $20.30 and a 52-week high of $37.88. The company has a fifty day moving average of $34.11 and a 200-day moving average of $30.05.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PGC shares. Piper Sandler upgraded Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $35.00 in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Insider Activity

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $32.29, for a total value of $96,870.00. Following the sale, the executive vice president now owns 49,155 shares of the company’s stock, valued at $1,587,214.95. This trade represents a 5.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.18% of the stock is currently owned by corporate insiders.

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.