Revenue Update on Peapack-Gladstone Financial Corp(NASDAQ:PGC)

Peapack-Gladstone Financial Corp(NASDAQ:PGC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $24.18M. Analysts estimated a revenue of $29.90M. Earnings per share were $0.40. Analysts had estimated an EPS of $0.35.

Peapack-Gladstone Financial Corp (PGC) shares turned negative on Thursdays trading session with the shares closing down -0.01 points or -0.05% at a volume of 17,667. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $20.35. The peak price level was also seen at $20.35 while the days lowest was $20.19. Finally the shares closed at $20.25. The 52-week high of the shares is $23.82 while the 52-week low is $16.17. According to the latest information available, the market cap of the company is $331 M.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Eric H. Waser (EVP, Head of Comm Banking) purchased 1,000 shares at $18.95 per share price.Also, On Jun 9, 2016, Jeffrey J Carfora (CFO) purchased 1,000 shares at $19.36 per share price.On Apr 27, 2016, F Duffield Meyercord (director) purchased 10,000 shares at $19.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Peapack-Gladstone Financial Corporation is a bank holding company. Peapack-Gladstone Bank (the Bank) is the Company’s principal subsidiary. The Bank is a state chartered commercial bank. The Bank provides private banking services to businesses non-profits and consumers through its private banking locations in Bedminster Morristown Princeton and Teaneck New Jersey its wealth management division and its branch network in Somerset Morris Hunterdon Middlesex and Union counties. The Bank operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial commercial real estate multifamily residential and consumer lending activities; deposit generation; operation of ATMs; telephone and Internet banking services; merchant credit card services and customer support sales. The Bank’s Private Wealth Management Division includes asset management services. The Bank owns 10 branches and leased 12 branches.

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