Peapack-Gladstone Financial (NASDAQ:PGC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday, March 20th.
Other research analysts also recently issued research reports about the stock. Hovde Group reaffirmed a “buy” rating and issued a $39.00 price target on shares of Peapack-Gladstone Financial in a report on Thursday, February 1st. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Peapack-Gladstone Financial in a research note on Monday, February 5th.
Shares of NASDAQ:PGC traded up $0.41 during trading on Tuesday, reaching $34.14. The company’s stock had a trading volume of 47,034 shares, compared to its average volume of 70,913. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30. Peapack-Gladstone Financial has a 12 month low of $29.06 and a 12 month high of $38.00. The company has a market cap of $635.47, a price-to-earnings ratio of 17.29 and a beta of 0.99.
Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.47 EPS for the quarter. Peapack-Gladstone Financial had a net margin of 21.05% and a return on equity of 9.42%. The firm had revenue of $39.19 million during the quarter.
Hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC purchased a new position in Peapack-Gladstone Financial during the fourth quarter valued at approximately $291,000. Millennium Management LLC grew its holdings in shares of Peapack-Gladstone Financial by 60.3% during the fourth quarter. Millennium Management LLC now owns 237,108 shares of the financial services provider’s stock valued at $8,304,000 after buying an additional 89,202 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Peapack-Gladstone Financial by 3.1% during the fourth quarter. TIAA CREF Investment Management LLC now owns 71,461 shares of the financial services provider’s stock valued at $2,503,000 after buying an additional 2,157 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Peapack-Gladstone Financial by 10.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 85,536 shares of the financial services provider’s stock valued at $2,995,000 after buying an additional 7,886 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in Peapack-Gladstone Financial during the fourth quarter valued at $385,000. 69.39% of the stock is owned by institutional investors and hedge funds.
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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.
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