Declared Dividend • Apr 29
First quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 7th May 2026 Payment date: 21st May 2026 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Buy Or Sell Opportunity • Apr 28
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 47% to US$42.84. The fair value is estimated to be US$34.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has declined by 27%. Revenue is forecast to grow by 30% in a year. Earnings are forecast to grow by 61% in the next year. Price Target Changed • Apr 27
Price target increased by 12% to US$44.75 Up from US$40.00, the current price target is an average from 4 analysts. New target price is 8.2% above last closing price of US$41.35. Stock is up 50% over the past year. The company is forecast to post earnings per share of US$3.74 for next year compared to US$2.12 last year. Reported Earnings • Apr 23
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: US$0.81 (up from US$0.43 in 1Q 2025). Revenue: US$75.2m (up 26% from 1Q 2025). Net income: US$14.2m (up 86% from 1Q 2025). Profit margin: 19% (up from 13% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Apr 16
Peapack-Gladstone Financial Corporation to Report Q1, 2026 Results on Apr 22, 2026 Peapack-Gladstone Financial Corporation announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 22, 2026 Recent Insider Transactions • Apr 07
President recently bought US$398k worth of stock On the 30th of March, Douglas Kennedy bought around 11k shares on-market at roughly US$35.21 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Douglas has been a buyer over the last 12 months, purchasing a net total of US$495k worth in shares. Announcement • Mar 27
Peapack-Gladstone Financial Corporation announced that it expects to receive $50 million in funding from Strategic Value Bank Partners LLC Peapack-Gladstone Financial Corporation entered into a purchase agreement for a private placement to issue 50,000 6.00% Non-Cumulative Perpetual Convertible Preferred Stock, Series B at an issue price of $1,000 for the proceeds of $50,000,000 on March 26, 2026. Transaction involves participation of Strategic Value Investors, LP, and Strategic Value Private Investors II, LP. Transaction is expected to close by December 31, 2027. Company is issuing the Shares in reliance on the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act, and/or Rule 506 of Regulation D (“ Regulation D ”) as promulgated by the United States Securities and Exchange Commission (the “ Commission ”) under the Securities Act, and compliance with all applicable state securities. Transaction is subject to regulatory approval.
On the same day, company issued 30,000 shares of Series B Preferred Stock for the proceeds of $30,000,000. Recent Insider Transactions Derivative • Mar 24
President notifies of intention to sell stock Douglas Kennedy intends to sell 11k shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of March. If the sale is conducted around the recent share price of US$34.39, it would amount to US$369k. For the year to December 2019, Douglas' total compensation was 27% salary and 73% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Douglas' direct individual holding has increased from 63.98k shares to 68.52k. Company insiders have collectively bought US$26k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Mar 17
Peapack-Gladstone Financial Corporation, Annual General Meeting, Apr 29, 2026 Peapack-Gladstone Financial Corporation, Annual General Meeting, Apr 29, 2026. Reported Earnings • Mar 13
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$2.12 (up from US$1.87 in FY 2024). Revenue: US$258.6m (up 17% from FY 2024). Net income: US$37.3m (up 13% from FY 2024). Profit margin: 14% (in line with FY 2024). Net interest margin (NIM): 2.84% (up from 2.32% in FY 2024). Non-performing loans: 1.09% (down from 1.82% in FY 2024). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Price Target Changed • Feb 27
Price target increased by 10% to US$39.33 Up from US$35.63, the current price target is an average from 3 analysts. New target price is 17% above last closing price of US$33.49. Stock is up 3.5% over the past year. The company is forecast to post earnings per share of US$3.57 for next year compared to US$2.12 last year. Recent Insider Transactions • Feb 12
Executive VP recently sold US$188k worth of stock On the 9th of February, Maureen Hemhauser sold around 5k shares on-market at roughly US$35.59 per share. This transaction amounted to 92% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$252k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Feb 10
Executive VP notifies of intention to sell stock Maureen Hemhauser intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 9th of February. If the sale is conducted around the recent share price of US$35.59, it would amount to US$188k. Since March 2025, Maureen has owned 5.73k shares directly. Company insiders have collectively sold US$64k more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$34.61, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Banks industry in the US. Total loss to shareholders of 8.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$36.31 per share. Declared Dividend • Feb 04
Fourth quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 12th February 2026 Payment date: 26th February 2026 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 9%. Forecast payout ratio in 3 years: 4%. Reported Earnings • Jan 30
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$2.12 (up from US$1.87 in FY 2024). Revenue: US$255.1m (up 16% from FY 2024). Net income: US$37.3m (up 13% from FY 2024). Profit margin: 15% (in line with FY 2024). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Jan 30
Peapack Private Appoints Elizabeth Martone as Senior Managing Director Peapack-Gladstone Financial Corporation announce that Elizabeth “Liz” Martone has joined the organization as Senior Managing Director, Group Director. Operating from the Bank’s Park Avenue Office in New York City, she will play a pivotal role as a part of James Handal’s leadership team. Liz is a seasoned banking executive with 25 years of financial services experience and a proven track record of building and managing high-value client relationships, driving business development, and enhancing operational efficiency. Most recently, she served as Senior Vice President, Commercial Private Banking at BankUnited in Melville, NY, where she led a team of associates and provided guidance to enhance the client experience. In this role, she focused on delivering superior service while cultivating new business opportunities across high-net-worth individuals, companies and referral networks. Prior to that, Liz served as Managing Director at The Montauk Group, where she collaborated in the development and implementation of comprehensive global banking relationship management (BRM) strategies to strengthen client relationships and optimize financial and operational performance. Her earlier positions include Vice President, Cash Management at Herald National Bank in New York, NY; Vice President, Private Banking at Capital One; and Vice President, Cash Management Team Lead at North Fork Bank. Liz earned a Bachelor of Arts degree in Psychology, Philosophy and Education from Siena College. Declared Dividend • Oct 26
Third quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 6th November 2025 Payment date: 28th November 2025 Dividend yield will be 0.7%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (10% payout ratio) and is expected to be well covered in 3 years' time (5% forecast payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 91% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 24
Peapack-Gladstone Financial Corporation Reports Net Charge Off for the Third Quarter Ended September 30, 2025 Peapack-Gladstone Financial Corporation reported net charge off for the third quarter ended September 30, 2025. For the quarter, the company reported net charge-offs of $6.7 million related to three commercial mortgage loans. Reported Earnings • Oct 23
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: US$0.55 (up from US$0.43 in 3Q 2024). Revenue: US$65.9m (up 19% from 3Q 2024). Net income: US$9.63m (up 27% from 3Q 2024). Profit margin: 15% (in line with 3Q 2024). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 10%. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Oct 23
Peapack-Gladstone Financial Corporation Declares Cash Dividend, Payable on November 28, 2025 On September 29, 2025, Peapack-Gladstone Financial Corporation declared a cash dividend of $0.05 per share, payable on November 28, 2025 to shareholders of record on November 6, 2025. Recent Insider Transactions • Sep 21
Insider recently sold US$93k worth of stock On the 15th of September, Gregory Smith sold around 3k shares on-market at roughly US$29.15 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$724k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Sep 16
Insider notifies of intention to sell stock Gregory Smith intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of September. If the sale is conducted around the recent share price of US$29.15, it would amount to US$93k. Since March 2025, Gregory has owned 8.63k shares directly. Company insiders have collectively sold US$557k more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Jul 28
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from US$2.51 to US$2.11 per share. Revenue forecast steady at US$281.2m. Net income forecast to grow 55% next year vs 14% growth forecast for Banks industry in the US. Consensus price target down from US$35.50 to US$34.25. Share price fell 12% to US$26.40 over the past week. Recent Insider Transactions • Jul 27
President recently bought US$98k worth of stock On the 23rd of July, Douglas Kennedy bought around 4k shares on-market at roughly US$26.24 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Douglas' only on-market trade for the last 12 months. Declared Dividend • Jul 24
Second quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 7th August 2025 Payment date: 21st August 2025 Dividend yield will be 0.8%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 47% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 22
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: US$0.45 (up from US$0.42 in 2Q 2024). Revenue: US$63.2m (up 20% from 2Q 2024). Net income: US$7.94m (up 5.5% from 2Q 2024). Profit margin: 13% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 25
First quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 8th May 2025 Payment date: 22nd May 2025 Dividend yield will be 0.7%, which is lower than the industry average of 3.2%. Reported Earnings • Apr 23
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: US$0.43 (down from US$0.49 in 1Q 2024). Revenue: US$59.9m (up 14% from 1Q 2024). Net income: US$7.60m (down 12% from 1Q 2024). Profit margin: 13% (down from 17% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Apr 02
Independent Chairman of the Board recently bought US$180k worth of stock On the 31st of March, F. Meyercord bought around 6k shares on-market at roughly US$28.44 per share. This transaction amounted to 4.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was F.'s only on-market trade for the last 12 months. Recent Insider Transactions • Mar 23
SEVP & President of Wealth Management recently sold US$288k worth of stock On the 19th of March, John Babcock sold around 10k shares on-market at roughly US$28.76 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$563k. Insiders have been net sellers, collectively disposing of US$1.5m more than they bought in the last 12 months. Announcement • Mar 21
Peapack-Gladstone Financial Corporation, Annual General Meeting, Apr 29, 2025 Peapack-Gladstone Financial Corporation, Annual General Meeting, Apr 29, 2025. Recent Insider Transactions Derivative • Mar 18
President notifies of intention to sell stock Douglas Kennedy intends to sell 30k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of March. If the sale is conducted around the recent share price of US$29.06, it would amount to US$872k. For the year to December 2018, Douglas' total compensation was 27% salary and 73% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Douglas' direct individual holding has decreased from 95.70k shares to 91.89k. Company insiders have collectively sold US$1.2m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Mar 13
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$1.87 (down from US$2.74 in FY 2023). Revenue: US$220.4m (up 2.3% from FY 2023). Net income: US$33.0m (down 33% from FY 2023). Profit margin: 15% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 2.32% (down from 2.48% in FY 2023). Non-performing loans: 1.82% (up from 1.13% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Feb 03
Insider recently sold US$563k worth of stock On the 30th of January, Gregory Smith sold around 18k shares on-market at roughly US$31.95 per share. This transaction amounted to 98% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.2m more than they bought in the last 12 months. Declared Dividend • Jan 31
Fourth quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 6th February 2025 Payment date: 21st February 2025 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 11%. Forecast payout ratio in 3 years: 5%. Reported Earnings • Jan 29
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$1.87 (down from US$2.74 in FY 2023). Revenue: US$220.6m (up 2.4% from FY 2023). Net income: US$33.0m (down 33% from FY 2023). Profit margin: 15% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Price Target Changed • Dec 16
Price target increased by 9.4% to US$38.67 Up from US$35.33, the current price target is an average from 3 analysts. New target price is 7.7% above last closing price of US$35.89. Stock is up 25% over the past year. The company is forecast to post earnings per share of US$1.80 for next year compared to US$2.74 last year. Announcement • Dec 10
Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank Appoint Paula Gambino as Senior Vice President, Head of SBA Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank announced that Paula Gambino has joined the Bank as a Senior Vice President, Head of SBA. Based in the Bank’s Headquarters in Bedminster, New Jersey, Paula plays a key role in expanding the Bank’s SBA business, dedicated to delivering exceptional, personalized service to both new and existing business clients. The U.S. Small Business Administration (SBA) aims to bolster the nation’s economy by assisting individuals in starting, building, and growing their businesses. The Bank’s SBA Lending Division offers custom-tailored support to qualifying small business owners, addressing their financial needs and fostering their success and growth. With over 25 years of experience in the financial services industry, Paula previously served as Senior Vice President, Director of SBA Lending, Somerset Regal Bank and Senior Vice President, Community First Bank where she successfully launched and managed the Small Business Lending Department, securing Small Business Administration (SBA) Preferred Lender status. She was instrumental in developing and implementing strategic business plans that drove significant growth. Prior to that, Paula served as Vice President, SBA Team Leader and Vice President, SBA Small Business Development Officer at Unity Bank. Paula holds a Bachelor of Science degree in Finance from Seton Hall University. She holds Title, Life, and Health Insurance Producer Licenses in NJ. Ms. Gambino is a volunteer for the Women’s Club of Tewksbury Township, and a member of the Somerset County Business Partnership, and Hunterdon County Chamber of Commerce. Recent Insider Transactions • Nov 06
SEVP & President of Wealth Management recently sold US$97k worth of stock On the 4th of November, John Babcock sold around 3k shares on-market at roughly US$32.29 per share. This transaction amounted to 5.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$269k. Insiders have been net sellers, collectively disposing of US$740k more than they bought in the last 12 months. Declared Dividend • Oct 25
Third quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 7th November 2024 Payment date: 22nd November 2024 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 11%. Forecast payout ratio in 3 years: 6%. Price Target Changed • Oct 24
Price target increased by 7.6% to US$35.33 Up from US$32.83, the current price target is an average from 3 analysts. New target price is 11% above last closing price of US$31.75. Stock is up 41% over the past year. The company is forecast to post earnings per share of US$1.80 for next year compared to US$2.74 last year. Reported Earnings • Oct 23
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: US$0.43 (down from US$0.49 in 3Q 2023). Revenue: US$55.4m (up 11% from 3Q 2023). Net income: US$7.59m (down 13% from 3Q 2023). Profit margin: 14% (down from 18% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Oct 23
Peapack-Gladstone Financial Corporation Declares Cash Dividend, Payable on November 22, 2024 On September 25, 2024, Peapack-Gladstone Financial Corporation declared a cash dividend of $0.05 per share payable on November 22, 2024 to shareholders of record on November 7, 2024. Recent Insider Transactions • Sep 08
SEVP & President of Wealth Management recently sold US$269k worth of stock On the 5th of September, John Babcock sold around 10k shares on-market at roughly US$26.89 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$643k more than they bought in the last 12 months. Recent Insider Transactions • Aug 21
SEVP & President of Wealth Management recently sold US$128k worth of stock On the 16th of August, John Babcock sold around 5k shares on-market at roughly US$25.69 per share. This transaction amounted to 6.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$535k more than they bought in the last 12 months. Announcement • Aug 20
Peapack Private Announces Elevation of MJ Sully, Esq. to Senior Managing Director, Chief Fiduciary Officer and President of PGB Trust & Investments of Delaware Peapack-Gladstone Financial Corporation announced 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 began her legal career in private practice and then served for more than 12 years as a government attorney. She was Assistant Municipal Attorney to the Township of West Orange and then Special Probate Counsel to the Essex County Surrogate’s Court and the Superior Court of New Jersey, Chancery Division, Probate Part. Ms. Sully has lectured for the New Jersey Institute for Continuing Legal Education on various topics such as Probate Litigation, Surrogate Court Practice, Fiduciary Duties, Elective Share, Guardianships, Conservatorships, and was the Keynote Speaker at the New Jersey Institute for Continuing Legal Education’s 56th Semi-Annual Tax & Estate Planning Forum. She has appeared on the Discovery Channel as a legal expert for the television series, “The Will”. Ms. Sully serves as a member of the Board of Directors for the County College of Morris Foundation. She was also selected to serve as a Mediator for the Essex County Probate Early Settlement Panel. She is on the Executive Committee of LIFT (Leading Inspiring Females Together) at the Bank. Ms. Sully is admitted to practice in New Jersey and Pennsylvania. She received her BA Degree from The University of Notre Dame. She also earned an MSA from The University of Notre Dame Mendoza College of Business, and a JD from The University of Notre Dame School of Law. As an undergraduate, she was a member of the Women’s National Championship Fencing Team and was recognized as a Scholar Athlete. Recent Insider Transactions Derivative • Aug 18
SEVP & President of Wealth Management notifies of intention to sell stock John Babcock intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of August. If the sale is conducted around the recent share price of US$26.19, it would amount to US$131k. Since March 2024, John has owned 73.79k shares directly. Company insiders have collectively sold US$407k more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Jul 28
Price target increased by 9.2% to US$31.67 Up from US$29.00, the current price target is an average from 3 analysts. New target price is 9.8% above last closing price of US$28.84. Stock is down 3.2% over the past year. The company is forecast to post earnings per share of US$1.62 for next year compared to US$2.74 last year. Declared Dividend • Jul 26
Second quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 8th August 2024 Payment date: 22nd August 2024 Dividend yield will be 0.7%, which is lower than the industry average of 3.2%. Reported Earnings • Jul 24
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: US$0.42 (down from US$0.73 in 2Q 2023). Revenue: US$52.7m (down 5.6% from 2Q 2023). Net income: US$7.53m (down 43% from 2Q 2023). Profit margin: 14% (down from 24% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 5% per year. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$24.74, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Banks industry in the US. Total loss to shareholders of 15% over the past three years. Price Target Changed • Jun 24
Price target decreased by 7.6% to US$29.33 Down from US$31.75, the current price target is an average from 3 analysts. New target price is 40% above last closing price of US$20.88. Stock is down 22% over the past year. The company is forecast to post earnings per share of US$1.65 for next year compared to US$2.74 last year. Recent Insider Transactions • May 23
Insider recently sold US$111k worth of stock On the 21st of May, Stuart Vorcheimer sold around 5k shares on-market at roughly US$24.09 per share. This transaction amounted to 60% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$513k more than they bought in the last 12 months. Major Estimate Revision • May 06
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$229.9m to US$223.5m. EPS estimate also fell from US$1.74 per share to US$1.56 per share. Net income forecast to shrink 16% next year vs 1.7% growth forecast for Banks industry in the US . Consensus price target broadly unchanged at US$31.38. Share price was steady at US$23.23 over the past week. Declared Dividend • Apr 27
First quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 8th May 2024 Payment date: 23rd May 2024 Dividend yield will be 0.9%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 14% over the next year, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Apr 26
Consensus EPS estimates fall by 24% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$2.29 to US$1.74. Revenue forecast unchanged from US$229.9m at last update. Net income forecast to shrink 10.0% next year vs 0.9% growth forecast for Banks industry in the US . Consensus price target broadly unchanged at US$31.75. Share price was steady at US$22.92 over the past week. Reported Earnings • Apr 24
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$0.49 (down from US$1.03 in 1Q 2023). Revenue: US$52.4m (down 13% from 1Q 2023). Net income: US$8.63m (down 53% from 1Q 2023). Profit margin: 17% (down from 30% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Apr 24
Peapack-Gladstone Financial Corporation Declares Cash Dividend, Payable on May 23, 2024 On March 28, 2024, Peapack-Gladstone Financial Corporation declared a cash dividend of $0.05 per share payable on May 23, 2024 to shareholders of record on May 9, 2024. Announcement • Apr 24
Peapack-Gladstone Financial Corporation and Peapack Private Appoints Greg Tamberlane as Senior Vice President, Head of Commercial Bank Operations New York Peapack-Gladstone Financial Corporation and Peapack Private, a division of Peapack-Gladstone Bank announced 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 Digital Asset Solutions at Signature Bank where he worked with commercial banking teams to develop and onboard strategic and complex client relationships and oversaw development of several internal and external commercial banking systems and applications. Prior to that, Greg held various positions at Corvil, Phreesia, ZocDoc, Argent, and Connecticut Business Systems where he specialized in technology sales across various industries including global financial and high frequency trading, healthcare, and professional services. Mr. Tamberlane holds a Bachelor of Arts degree in Mathematics and Computer Science from Purchase College in New York. Announcement • Mar 16
Peapack-Gladstone Financial Corporation, Annual General Meeting, Apr 30, 2024 Peapack-Gladstone Financial Corporation, Annual General Meeting, Apr 30, 2024, at 10:00 US Eastern Standard Time. Agenda: To elect fourteen directors to serve for a one-year term and until their successors shall have been duly elected and qualified; to approve, on a non-binding basis, the compensation of the Company’s named executive officers; to approve the Peapack-Gladstone Financial Corporation 2024 Employee Stock Purchase Plan to replace the expiring Peapack-Gladstone Financial Corporation 2014 Employee Stock Purchase Plan and to consider other matters. Reported Earnings • Mar 13
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: US$2.74 (down from US$4.09 in FY 2022). Revenue: US$215.5m (down 8.7% from FY 2022). Net income: US$48.9m (down 34% from FY 2022). Profit margin: 23% (down from 31% in FY 2022). The decrease in margin was primarily driven by lower revenue. Net interest margin (NIM): 2.48% (down from 2.91% in FY 2022). Non-performing loans: 1.13% (up from 0.36% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 01
Insider recently sold US$135k worth of stock On the 30th of January, Gregory Smith sold around 5k shares on-market at roughly US$30.02 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$183k more than they bought in the last 12 months. Declared Dividend • Jan 29
Fourth quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 7th February 2024 Payment date: 23rd February 2024 Dividend yield will be 0.7%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 7%. Forecast payout ratio in 3 years: 7%. Reported Earnings • Jan 26
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: US$2.74 (down from US$4.09 in FY 2022). Revenue: US$215.6m (down 8.7% from FY 2022). Net income: US$48.9m (down 34% from FY 2022). Profit margin: 23% (down from 31% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jan 10
Price target increased by 9.3% to US$33.63 Up from US$30.75, the current price target is an average from 4 analysts. New target price is 18% above last closing price of US$28.44. Stock is down 21% over the past year. The company is forecast to post earnings per share of US$2.69 for next year compared to US$4.09 last year. Announcement • Jan 10
Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank Announce the Appointment of Birgitta Natale as Senior Vice President, Director of Residential and Consumer Lending Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank announced 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 Processing at First Republic Bank, where she built and managed operations of the east coast region closing/funding teams and headed the NY and Florida loan specialist area. She consistently increased production and funding while aligning with high-level service expectations and compliance. Prior to her tenure at First Republic, she held similar leadership roles at First Capital Federal Credit Union, United National Federal Credit Union, and American Home Bank/First National Bank of Coffee County where she led high performing teams, supporting sales and fostering a high-touch customer service level. Birgitta attended Strombacka in Sweden before immigrating to the United States. She earned her AllRegs certification in compliance and graduated from the Wharton School University of Pennsylvania Management Leadership Program. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$25.61, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Banks industry in the US. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$42.66 per share. Upcoming Dividend • Nov 01
Upcoming dividend of US$0.05 per share at 0.9% yield Eligible shareholders must have bought the stock before 08 November 2023. Payment date: 27 November 2023. Payout ratio is a comfortable 1.5% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of American dividend payers (5.3%). Lower than average of industry peers (4.1%). Price Target Changed • Oct 27
Price target decreased by 10% to US$30.00 Down from US$33.38, the current price target is an average from 4 analysts. New target price is 35% above last closing price of US$22.21. Stock is down 44% over the past year. The company is forecast to post earnings per share of US$2.67 for next year compared to US$4.09 last year. Reported Earnings • Oct 25
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: US$0.49 (down from US$1.11 in 3Q 2022). Revenue: US$50.0m (down 18% from 3Q 2022). Net income: US$8.76m (down 56% from 3Q 2022). Profit margin: 18% (down from 33% in 3Q 2022). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates significantly. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Oct 25
Peapack-Gladstone Financial Corporation Declares Cash Dividend, Payable on November 27, 2023 On September 27, 2023, Peapack-Gladstone Financial Corporation declared a cash dividend of $0.05 per share payable on November 27, 2023 to shareholders of record on November 9, 2023. Recent Insider Transactions • Sep 10
Insider recently sold US$161k worth of stock On the 6th of September, Stuart Vorcheimer sold around 6k shares on-market at roughly US$26.80 per share. This transaction amounted to 52% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$125k more than they bought in the last 12 months. Announcement • Sep 01
Peapack-Gladstone Financial Corporation and Peapack Private Appoints James Mckenna as Senior Managing Director, Commercial Private Banker Peapack-Gladstone Financial Corporation and Peapack Private 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 Companys 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, Relationship Manager, at Valley National Bank (formerly Leumi Bank). He started his banking career in 2004 at Wells Fargo in Huntington Beach and Irvine, CA, moving with the bank in 2010 to Paramus, NJ as VP, Senior Relationship Manager. Recent Insider Transactions • Aug 06
Senior EVP & CFO recently bought US$75k worth of stock On the 1st of August, Frank Cavallaro bought around 3k shares on-market at roughly US$29.38 per share. This transaction amounted to 78% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Frank has been a buyer over the last 12 months, purchasing a net total of US$175k worth in shares. Upcoming Dividend • Aug 02
Upcoming dividend of US$0.05 per share at 0.7% yield Eligible shareholders must have bought the stock before 09 August 2023. Payment date: 24 August 2023. Payout ratio is a comfortable 5.0% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.4%). Announcement • Aug 02
Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank Appoints Brian J. Scherman as Senior Vice President, Director of Residential and Consumer Lending Peapack-Gladstone Financial Corporation 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, strategies and technical plan execution to enhance revenue through new products and service expansion. His strategies proved instrumental in securing significant sales growth, building a top-tier pipeline, and penetrating the market against competitors. Prior to First Republic, Mr. Scherman served as Vice President, Citigold Relationship Manager, at Citibank and Vice President, Private Banker, at JPMorgan Chase Bank in New York, NY. Additional roles in New York City included Premier Relationship Manager, HSBC Bank USA Na; Financial Planner, MetLife Securities; and Vice President, Mortgage-Backed Securities Trader, Commerzbank AG. Mr. Scherman holds a Bachelor of Science and Masters Degree in Business Administration from Pace University. He attended Wharton School of Business and holds FINRA Series 7 and 66 licenses, New York Life and Health Insurance. New Risk • Jul 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Significant insider selling over the past 3 months (US$181k sold). Reported Earnings • Jul 26
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: US$0.73 (down from US$1.10 in 2Q 2022). Revenue: US$55.8m (down 6.9% from 2Q 2022). Net income: US$13.1m (down 35% from 2Q 2022). Profit margin: 24% (down from 34% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Jul 14
Peapack-Gladstone Financial Corporation Appoints Jeanne Scungio as President for Peapack Private’s New York Location Peapack-Gladstone Financial Corporation announced Jeanne Scungio, an experienced financial services leader, has joined the team to lead the expansion as the President for Peapack Private’s New York location. Jeanne has extensive experience as a leader of high-performing teams who advocate for individuals and businesses with complex needs. She joins Peapack Private from First Republic Bank where she was a Team Leader and Senior Managing Director for the bank’s New York City presence since 2004. Jeanne’s experience includes similar senior level private banking roles at U.S. Trust Company, Citibank, N.A. and Chase Manhattan Bank, N.A. Jeanne’s focus on providing customized client solutions that include credit, investment, specialized asset management and depository services; along with her leadership skills and focus on providing an exceptional client experience, aligns with Peapack Private’s business model and its commitment to providing exceptional, single point of contact client service that goes beyond market norms. Jeanne is a graduate of The Wharton School, University of Pennsylvania, Executive Development Program and holds a Bachelor of Science Degree in Business Administration from Providence College, Providence, Rhode Island. She is a volunteer at Memorial Sloan Kettering Hospital and a former volunteer at The Ronald McDonald House, both in New York. Announcement • Jun 28
Peapack-Gladstone Financial Corporation Promotes Heather Gibbs to Senior Vice President, Enterprise Risk and Information Security Officer Peapack-Gladstone Financial Corporation announced the elevation of Heather Gibbs to Senior Vice President, Enterprise Risk and Information Security Officer. As a part of Peapack-Gladstone Bank’s experienced team of risk and compliance professionals, Heather is responsible for the Bank’s Risk Management programs including vendor risk, information technology and information security risk, operational risk, regulatory compliance risk and business continuity planning. Ms. Gibbs has 16 years of financial services experience, previously serving at Peapack-Gladstone Bank as Vice President, Enterprise Risk and Information Security Officer. Heather holds Certified Information Security Manager (CISM) certification. She is a member of NJBankers Enterprise Risk Management and Cybersecurity Committees and has hosted and participated in multiple NJBankers panel discussions. Heather completed Peapack-Gladstone Bank’s Executive Leadership Academy through Montclair State University’s Feliciano School of Business and is Co-chairperson of the Bank’s Data Governance and Diversity and Inclusion Committees. New Risk • Jun 26
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$334k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.0% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (US$334k sold). Announcement • Jun 23
Peapack-Gladstone Financial Corporation Announces the Appointment of Patrick Campion as New Director Peapack-Gladstone Financial Corporation announced 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 visible LGBT executive, Patrick is a long-standing advocate for diversity with a reputation for building healthy workplace cultures of purpose, communication, transparency, and accountability. Patrick is a graduate of the University of Connecticut with a Bachelor of Arts in Economics. He is NACD Directorship Certified(TM). He is currently a board member of The Normandy Institute and a former member of various bank boards and executive committees including Deutsche Bank USA, Deutsche Bank Securities, Deutsche Bank Foundation, the University of Connecticut Foundation and Housing Works. Recent Insider Transactions • Jun 12
Insider recently sold US$181k worth of stock On the 7th of June, John Babcock sold around 6k shares on-market at roughly US$30.20 per share. This transaction amounted to 7.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$166k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Jun 11
Insider notifies of intention to sell stock John Babcock intends to sell 6k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of June. If the sale is conducted around the recent share price of US$30.29, it would amount to US$182k. Since June 2022, John's direct individual holding has increased from 68.18k shares to 77.82k. Company insiders have collectively bought US$51k more than they sold, via options and on-market transactions, in the last 12 months. Price Target Changed • May 26
Price target decreased by 12% to US$37.33 Down from US$42.25, the current price target is an average from 3 analysts. New target price is 37% above last closing price of US$27.24. Stock is down 18% over the past year. The company is forecast to post earnings per share of US$3.83 for next year compared to US$4.09 last year. Price Target Changed • May 03
Price target decreased by 8.9% to US$41.67 Down from US$45.75, the current price target is an average from 3 analysts. New target price is 69% above last closing price of US$24.63. Stock is down 24% over the past year. The company is forecast to post earnings per share of US$3.73 for next year compared to US$4.09 last year. 