Peapack-Gladstone Financial (NASDAQ:PGC) Releases Earnings Results, Beats Expectations By $0.06 EPS

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

Peapack-Gladstone Financial Stock Performance

NASDAQ:PGC opened at $28.97 on Wednesday. The company has a 50-day moving average of $27.43 and a 200-day moving average of $24.89. The firm has a market cap of $512.19 million, a price-to-earnings ratio of 15.49 and a beta of 0.99. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. Peapack-Gladstone Financial has a twelve month low of $20.30 and a twelve month high of $30.78.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP John P. Babcock sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $26.89, for a total transaction of $268,900.00. Following the completion of the sale, the executive vice president now directly owns 52,155 shares in the company, valued at approximately $1,402,447.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.63% of the company’s stock.

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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.