Peapack-Gladstone Financial (PGC) to Release Quarterly Earnings on Thursday

Peapack-Gladstone Financial (NASDAQ:PGC) is anticipated to announce 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 announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share for the quarter, beating 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 business had revenue of $102.14 million during the quarter, compared to the consensus estimate 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

Shares of PGC stock opened at $31.81 on Tuesday. The company has a market cap of $559.22 million, a P/E ratio of 17.57 and a beta of 1.00. The business has a 50 day moving average of $34.11 and a two-hundred day moving average of $30.05. Peapack-Gladstone Financial has a 52 week low of $20.30 and a 52 week high of $37.88. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In related news, EVP John P. Babcock sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $32.29, for a total value of $96,870.00. Following the completion of the sale, the executive vice president now directly owns 49,155 shares of the company’s stock, valued at approximately $1,587,214.95. This represents a 5.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.18% of the company’s stock.

Wall Street Analysts Forecast Growth

PGC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted 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. Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and raised their target price for the company from $30.00 to $35.00 in a research note on Wednesday, October 23rd.

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.