Peapack-Gladstone Financial Corp Price Target Reduced by Keefe Bruyette, Analyst Maintains Outperform Rating

Keefe Bruyette has reduced its price target for Peapack-Gladstone (PGC) from $38 to $35, maintaining an Outperform rating. The average one-year price target from 4 analysts is $34.25, with a high estimate of $39 and a low estimate of $30. The average target implies a 25.60% upside from the current price of $27.27. The average brokerage recommendation is 1.5, indicating a "Buy" status. GuruFocus estimates a GF Value of $39.70 for PGC in one year, suggesting a 45.58% upside from the current price.

Peapack-Gladstone Financial Corporation (PGC) has seen a reduction in its price target by Keefe Bruyette & Woods (KBW). The investment research firm has lowered its price target for PGC from $38 to $35, while maintaining an Outperform rating. This adjustment comes after PGC reported earnings that fell short of analyst expectations, particularly in earnings per share (EPS).

The average one-year price target from four analysts is $34.25, with a high estimate of $39 and a low estimate of $30. This implies a 25.60% upside from the current price of $27.27. The average brokerage recommendation is 1.5, indicating a "Buy" status. GuruFocus estimates a GF Value of $39.70 for PGC in one year, suggesting a 45.58% upside from the current price.

The earnings report for the quarter ended June 2025 showed that PGC reported revenue of $69.74 million, a 23.2% increase year-over-year. However, EPS came in at $0.45, which was a significant miss compared to the consensus estimate of $0.61. This discrepancy can be attributed to increased expenses related to the company's expansion in the New York City metropolitan market and higher provision expenses [1].

Despite the earnings miss, PGC did not report any net charge-offs in the quarter. However, non-performing assets increased by 18% quarter-over-quarter, reaching 1.60% of total assets. This increase was driven by commercial and industrial loans, leasing exposure, and multifamily loans [2].

The stock has seen a 5.7% rise this quarter and a 6.8% decline year-to-date. The current average analyst rating on the shares is "strong buy," with no "hold" or "sell" recommendations [3].

In other news, PGC has made significant leadership appointments. A. Michael Smith was named Senior Vice President and Chief Audit Executive, while Assimina Mina Nikiforos was appointed Senior Managing Director in the Commercial Banking division [2].

References:
[1] https://www.nasdaq.com/articles/peapack-gladstone-pgc-reports-q2-earnings-what-key-metrics-have-say
[2] https://www.investing.com/news/analyst-ratings/keefe-bruyette--woods-lowers-peapackgladstone-stock-price-target-93CH-4148769
[3] https://www.tradingview.com/news/reuters.com,2025:newsml_L8N3TJ2CY:0-peapack-gladstone-financial-corp-reports-results-for-the-quarter-ended-june-30-earnings-summary/