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. The company also provides working capital lines of credit, term loans for fixed asset acquisitions, commercial mortgages, multi-family mortgages, and other forms of asset-based financing services; and residential mortgages, home equity lines of credit, and other second mortgage loans. In addition, it offers corporate and industrial (C&I) and equipment finance, commercial real estate, multifamily, residential, and consumer lending activities; treasury management services; C&I advisory services; escrow management; deposit generation; asset and investment management services; personal trust services, including services as executor, trustee, administrator, custodian, and guardian; and other financial planning, tax preparation, and advisory services. Further, the company operates automated teller machines at 19 locations; and provides telephone and Internet banking, merchant credit card, and customer support sales services. Its private banking clients include businesses, non-profits, and consumers; and wealth management clients comprise individuals, families, foundations, endowments, trusts, and estates. The company operates its private banking locations in Bedminster, Morristown, Princeton, and Teaneck, New Jersey; and wealth management branches in Somerset, Morris, Hunterdon, and Union counties. Peapack-Gladstone Financial Corporation was founded in 1921 and is headquartered in Bedminster, New Jersey.
IPO Year:
Exchange: NASDAQ
Website: pgbank.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
10/23/2024 | $30.00 → $35.00 | Neutral → Overweight | Piper Sandler |
4/24/2024 | Overweight → Neutral | Piper Sandler |
Piper Sandler upgraded Peapack-Gladstone Financial from Neutral to Overweight and set a new price target of $35.00 from $30.00 previously
Piper Sandler downgraded Peapack-Gladstone Financial from Overweight to Neutral
Hovde Group downgraded Peapack-Gladstone Financial from Outperform to Market Perform
G.Research resumed coverage of Peapack-Gladstone Financial with a rating of Buy
Peapack Gladstone Finl (NASDAQ:PGC) reported quarterly earnings of $0.42 per share which beat the analyst consensus estimate of $0.35 by 20 percent. This is a 42.47 percent decrease over earnings of $0.73 per share from the same period last year. The company reported quarterly sales of $56.60 million which beat the analyst consensus estimate of $54.36 million by 4.12 percent. This is a 1.56 percent decrease over sales of $57.50 million the same period last year.
U.S. regional banks are experiencing sessions of significant gains, as growing expectations for interest rate cuts fueled an investor rotation from large-cap to small-cap stocks. The SPDR S&P Regional Banking ETF (NYSE:KRE) — a widely followed gauge for the industry — rallied as much as 4.5% on Tuesday, marking the strongest session since December 2023. Notably, the recent five-day rally of nearly 15% was the strongest for regional banks since November 2020. With Tuesday’s move, regional banks have effectively recouped all losses suffered after March 9, 2023, characterized by the failure of Silicon Valley Bank and Signature Bank. “Lending conditions for commercial and industrial
- SEC Filing
Keefe, Bruyette & Woods analyst Christopher O'Connell maintains Peapack Gladstone Finl (NASDAQ:PGC) with a Outperform and lowers the price target from $29 to $28.
Keefe, Bruyette & Woods analyst Christopher O'Connell maintains Peapack Gladstone Finl (NASDAQ:PGC) with a Outperform and lowers the price target from $30.5 to $29.
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private, a division of Peapack-Gladstone Bank, boldly continue to move into New York City with the hiring of Andrew F. Corrado and more than 10 teams of commercial and private bankers. Andrew, fresh off his long tenure from Signature Bank and its successor Flagstar Bank, is now the President of the Commercial Bank in New York for Peapack Private. He will lead the Bank's NY expansion and oversee its presence in Manhattan, leveraging the combined experience of more than 50 bankers to ensure the successful growth of the Company."We are continuing to move aggressively into New York City due to the market dis
Keefe, Bruyette & Woods analyst Christopher O'Connell maintains Peapack Gladstone Finl (NASDAQ:PGC) with a Outperform and lowers the price target from $33.5 to $30.5.
Peapack Gladstone Finl (NASDAQ:PGC) reported quarterly earnings of $0.48 per share which beat the analyst consensus estimate of $0.45 by 6.67 percent.
What is a Value Stock? A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. Benzinga Insights has compiled a list of value stocks in the financial services sector that may be worth watching: Oak Valley (NASDAQ:OVLY) - P/E: 6.4 Peapack Gladstone Finl (NASDAQ:PGC) - P/E: 8.5 Security National Finl (NASDAQ:SNFCA) - P/E: 5.99 CNFinance Hldgs (NYSE:CNF) - P/E: 7.13 Intl General Insurance (NASDAQ:IGIC) - P/E: 6.29 Most recently, Oak Valley reported earnings per share at $0.89, whereas in Q2
BEDMINSTER, N.J., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its third quarter 2024 financial results. This earnings release should be read in conjunction with the Company's Q3 2024 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. During the third quarter of 2024, deposits grew $279 million, to $5.9 billion, which represents an annualized growth rate of 20%. Nearly half of the deposit growth during the quarter was attributed to an increase in noninterest-
BEDMINSTER, NJ, July 23, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its second quarter 2024 financial results. This earnings release should be read in conjunction with the Company's Q2 2024 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. During the second quarter of 2024, core relationship deposits grew $354 million to $4.6 billion which represents an annualized rate of 33%. During the first six months of the year core relationship deposi
BEDMINSTER, NJ, April 23, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its first quarter 2024 financial results. This earnings release should be read in conjunction with the Company's Q1 2024 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. The Company recorded total revenue of $53.1 million, net income of $8.6 million and diluted earnings per share ("EPS") of $0.48 for the quarter ended March 31, 2024, compared to revenue of $62.0 million, net i
BEDMINSTER, NJ, Jan. 25, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its fourth quarter 2023 financial results. This earnings release should be read in conjunction with the Company's Q4 2023 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. The Company recorded total revenue of $54.3 million, net income of $8.6 million and diluted earnings per share ("EPS") of $0.48 for the quarter ended December 31, 2023, compared to revenue of $64.9 million,
BEDMINSTER, NJ, Oct. 24, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its third quarter 2023 financial results. This earnings release should be read in conjunction with the Company's Q3 2023 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. The Company recorded total revenue of $55.9 million, net income of $8.8 million and diluted earnings per share ("EPS") of $0.49 for the quarter ended September 30, 2023, compared to revenue of $61.9 million, net
BEDMINSTER, NJ, July 25, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its second quarter 2023 results. This earnings release should be read in conjunction with the Company's Q2 2023 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. The Company recorded total revenue of $57.5 million, net income of $13.1 million and diluted earnings per share ("EPS") of $0.73 for the quarter ended June 30, 2023, compared to revenue of $61.4 million, net income of $20.1
KBRA affirms the ratings for Peapack-Gladstone Financial Corporation (NASDAQ:PGC) ("Peapack" or "the company"), including the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3. KBRA also affirms the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the shot-term deposit and debt ratings of K2 for its subsidiary, Peapack-Gladstone Bank. The Outlook for all long- term ratings is Positive. Key Credit Considerations PGC's ratings and Positive Outlook are supported by strong core capital levels, well-diversified revenue sources (with noninterest income generally comprising near or above 30
BEDMINSTER, NJ , April 25, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its first quarter 2023 results. This earnings release should be read in conjunction with the Company's Q1 2023 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. The Company recorded total revenue of $62.0 million, net income of $18.4 million and diluted earnings per share ("EPS") of $1.01 for the quarter ended March 31, 2023, compared to revenue of $54.3 million, net income of $13.
Bedminster, NJ, Jan. 26, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its fourth quarter 2022 results. This earnings release should be read in conjunction with the Company's Q4 2022 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. The Company recorded total revenue of $64.85 million, net income of $20.58 million and diluted earnings per share ("EPS") of $1.12 for the quarter ended December 31, 2022, compared to revenue of $56.17 million, n
Bedminster, NJ, Oct. 27, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its third quarter 2022 results. This earnings release should be read in conjunction with the Company's Q3 2022 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. The Company recorded total revenue of $61.91 million, net income of $20.13 million and diluted earnings per share ("EPS") of $1.09 for the quarter ended September 30, 2022, compared to revenue of $52.99 million, net income
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BEDMINSTER, N.J., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC), the holding company for Peapack-Gladstone Bank, a $6.8 billion commercial bank headquartered in Bedminster, NJ, announces an expected rebrand on or about January 1, 2025. The Bank and its wealth management division, having previously operated as separate brands, will unite under one name and one brand - Peapack Private Bank & Trust - or Peapack Private, in shortform. "There is established brand equity and a uniqueness in the name Peapack-Gladstone Bank; however, we see an opportunity to build on that equity and establish ourselves more broadly in the New York
BEDMINSTER, N.J., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its third quarter 2024 financial results. This earnings release should be read in conjunction with the Company's Q3 2024 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. During the third quarter of 2024, deposits grew $279 million, to $5.9 billion, which represents an annualized growth rate of 20%. Nearly half of the deposit growth during the quarter was attributed to an increase in noninterest-
BEDMINSTER, N.J., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce that Michael Anthony Guarino, Esq. has joined the Bank as a Senior Vice President, Attorney. Working out of the Bank's Headquarters in Bedminster, New Jersey and its new location at 300 Park Avenue, New York City, Mr. Guarino is primarily responsible for responding to all legal issues arising out of the Company's New York office, in addition to working with the Bank's General Counsel in providing support and advice to the Bank's executive and leadership teams on all matters of law and policy. An accomplished
BEDMINSTER, NJ, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Peapack-Gladstone Financial Corporation ("the Company") (NASDAQ Global Select Market: PGC) reports today that Moody's Investors Service ("Moody's") has confirmed investor grade ratings for both the Company and its banking subsidiary, Peapack-Gladstone Bank ("the Bank"). Moody's has confirmed the Baa3 long term local currency issuer rating for the Company, and the baa2 baseline credit assessment (BCA) for the Bank. The outlooks on the long-term issuer rating of the Company and on the long-term deposits and issuer ratings of Peapack-Gladstone Bank have been changed to "stable" from ratings under review. These actions conclude the review fo
BEDMINSTER, NJ, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private, a division of Peapack-Gladstone Bank, are proud to announce that Vanessa Tortorice has joined Peapack Private's New York City location as Senior Managing Director. Vanessa joins a team of highly-skilled commercial bankers at Peapack Private, where she will contribute to the growth of commercial and industrial business in the New York market. She is dedicated to providing tailored banking solutions to help clients achieve their long-term financial goals. With a proven track record in financial services, Vanessa brings 12 years of experience
BEDMINSTER, NJ, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) announces the elevation of MJ Sully, Esq. to Senior Managing Director, Chief Fiduciary Officer at Peapack Private, a division of Peapack-Gladstone Bank, and names her President of PGB Trust & Investments of Delaware, a bank subsidiary. She is a member of the Peapack Private senior leadership team and manages the trust and estate professionals and support personnel in both New Jersey and Delaware who provide trust, estate, agency, IRA, foundation, tax, and custody administration. Ms. Sully joined the wealth management division of the organization in 2007. Ms. Sully
BEDMINSTER, NJ, July 23, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its second quarter 2024 financial results. This earnings release should be read in conjunction with the Company's Q2 2024 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. During the second quarter of 2024, core relationship deposits grew $354 million to $4.6 billion which represents an annualized rate of 33%. During the first six months of the year core relationship deposi
BEDMINSTER, NJ, April 23, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its first quarter 2024 financial results. This earnings release should be read in conjunction with the Company's Q1 2024 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. The Company recorded total revenue of $53.1 million, net income of $8.6 million and diluted earnings per share ("EPS") of $0.48 for the quarter ended March 31, 2024, compared to revenue of $62.0 million, net i
BEDMINSTER, NJ, April 22, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private, a division of Peapack-Gladstone Bank, are proud to announce that Greg Tamberlane has been appointed as Senior Vice President, Head of Commercial Bank Operations New York, continuing to lead the expansion of Peapack Private's New York City location. Greg will oversee operations for New York, leading a team of financial services professionals to ensure the successful growth of the Company. Greg brings 10 years of financial services experience to Peapack Private, most recently serving as Vice President, Senior Manager of Dig
BEDMINSTER, NJ, April 19, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire — Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank, announce the elevation of Kate Sant'Angelo to Senior Vice President, Director of Personal Banking. As the lead for retail banking, Kate oversees the Bank's retail branch network, branch operations, client experience training and retail administration functions and responsibilities, with a focus on the Bank's strategic initiatives. With 22 years of experience in the banking industry, Kate previously served at Lakeland Bank and subsequently at Wells Fargo as Assistant Vice President, Branch Manager in Branchburg and
BEDMINSTER, NJ, Feb. 27, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) announces the appointment of Ron Bezoza as Senior Managing Director - Managing Principal, Head of Sales and Relationship Management at Peapack Private, a division of Peapack-Gladstone Bank. Ron joins the Peapack Private leadership team where he will help lead growth, profitability, client satisfaction, and expansion into new products, solutions, capabilities, and markets while supporting our wealth advisors to continue to deliver an unparalleled service level to current and future clients. Mr. Bezoza is also responsible for expanding Peapack Pr
BEDMINSTER, NJ, Jan. 11, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank announce the appointment of Rich Johnston as President, Peapack Capital, a subsidiary of the Bank, which focuses on equipment finance and leasing. Rich is now responsible for overseeing all originations and asset finance transactions from bank lessors, independent lessors, finance companies and intermediaries, in addition to out-bound syndications. Since joining Peapack Capital in 2017, he has played a significant role in the growth of this important business segment. Mr. Johnston has over 30 years of leasing and
BEDMINSTER, NJ, Jan. 09, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank announce the appointment of Birgitta Natale as Senior Vice President, Director of Residential and Consumer Lending. In this role, Ms. Natale is responsible for both residential and consumer lending, management of the residential loan originations team, and new business development as well as the build out of the mortgage operations expansion into New York. With more than 27 years of experience in the financial services arena, Birgitta previously served as Vice President, East Coast Closing and Head of New York Proc
BEDMINSTER, NJ, Sept. 13, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private, a division of Peapack-Gladstone Bank, are proud to announce the appointment of Klaudio Nikolla, Senior Managing Director, Commercial Private Banker. Mr. Nikolla joins a team of commercial and industrial lenders charged with executing on the Company's vision of becoming a premier banking partner to clients in the commercial space, wealth management and corporate advisory services. Mr. Nikolla brings over 16 years of success and contributions in the financial services industry to Peapack Private, serving as a trusted advisor
BEDMINSTER, NJ, Aug. 30, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private, a division of Peapack-Gladstone Bank, announce the appointment of James McKenna as Senior Managing Director, Commercial Private Banker. As the Bank expands its footprint into New York City, Mr. McKenna joins a team of seasoned and highly skilled commercial bankers whose primary focus is to build the Company's presence with its core competencies across commercial banking, investment banking and wealth management. With more than 19 years of commercial lending expertise, McKenna previously served as First Vice President, Re
BEDMINSTER, NJ, Aug. 16, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private, a division of Peapack-Gladstone Bank, are proud to announce the appointment of Faycal Lhamidi, Senior Managing Director, Commercial Private Banker. Mr. Lhamidi joins a team of senior level commercial bankers hired to help grow Peapack Private and its commercial and industrial business into the New York market. He provides customized banking solutions to a diverse set of medium and large-size enterprises to help them achieve their long-term financial goals. Faycal brings 12 years of financial services experience to Peapa
BEDMINSTER, NJ , July 31, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank announce the appointment of Brian J. Scherman as Senior Vice President, Director of Residential and Consumer Lending. Mr. Scherman is responsible for both residential and consumer lending, management of the loan origination team, and new business development and underwriting. With more than 30 years of industry experience, Brian most recently served as Senior Director, First Republic, where he contributed toward the growth of personal and business lending through the launch of game-changing initiatives, strategie
BEDMINSTER, NJ, June 22, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) announces the appointment of Patrick Campion to the Board of Directors of the Company and of Peapack-Gladstone Bank, effective June 22, 2023. Patrick Campion is an innovative financial services executive with more than 20 years of expertise leading US regional and international wealth management businesses at Deutsche Bank, HSBC, and Citi Private Bank, driving both financial and cultural transformations. Patrick led successful strategies for business growth, sales and performance management, client experience and regulatory compliance. A v
BEDMINSTER, NJ, May 22, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of John P. O'Gorman, Senior Vice President, Head of Special Assets at Peapack-Gladstone Bank. Working out of the Bank's Headquarters in Bedminster, New Jersey, Mr. O'Gorman's primary role includes managing various workout situations and processes for the Bank. Responsibilities also include managing the workout portfolio, recommending risk rating changes and impairment levels to executive management, negotiating with borrowers, developing workout strategies, assisting with policy and
BEDMINSTER, NJ, May 15, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of Vincent J. Mutarelli as Senior Managing Director, Commercial Private Banker at Peapack-Gladstone Bank. Vincent is responsible for growing a portfolio of commercial clients and servicing businesses in the Tri-State area. He will reinforce and expand Peapack-Gladstone Bank's footprint in the commercial arena while ensuring achievement of clients' long-term financial goals. Mr. Mutarelli brings with him 20 years of experience in delivering superior service in commercial lending,