Peapack-Gladstone Financial (PGC) Expected to Announce Quarterly 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 the company to announce earnings of $0.45 per share and revenue of $60,480.00 billion for the quarter.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $102.14 million during the quarter, compared to the consensus estimate of $58.24 million. Peapack-Gladstone Financial had a return on equity of 5.55% and a net margin of 8.12%. 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 Trading Up 1.8 %

Shares of PGC stock opened at $32.04 on Thursday. Peapack-Gladstone Financial has a twelve month low of $20.30 and a twelve month high of $37.88. The stock has a market cap of $563.42 million, a price-to-earnings ratio of 17.70 and a beta of 1.00. The company’s 50-day moving average price is $34.40 and its 200-day moving average price is $29.80. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22.

Analyst Ratings Changes

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

Insider Buying and Selling at Peapack-Gladstone Financial

In other news, EVP John P. Babcock sold 3,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $32.29, for a total transaction of $96,870.00. Following the completion of the transaction, the executive vice president now directly owns 49,155 shares in the company, valued at $1,587,214.95. This trade represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.63% 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.