Peapack-Gladstone Beats on Earnings as Margin Expands to 3.34%
As seen on the 24/7 Wall St. homepage on October 27, 2026.
Net interest margin expanded to 3.34% from 2.81% a year ago, pushing earnings past expectations for the fifth time in six quarters even as revenue came in short of estimates. Management guides to roughly $200 million of loan and deposit growth per quarter.
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Peapack-Gladstone Financial posted Q3 2026 diluted EPS of $0.99, beating expectations, as the net interest margin expanded to 3.34% on balance sheet repositioning and disciplined asset pricing.
Revenue of $87.49 million came in missing expectations, with total revenue declining year over year on a changing business mix. The EPS figure also includes a discrete income tax benefit tied to the purchase of transferable production tax credits, which pulled the effective tax rate below its normalized range.
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The broader franchise continued to build, with wealth management fee income supported by growing assets under management and gross client inflows during the quarter. Nonperforming assets and delinquent loan balances declined, and the GAAP efficiency ratio improved for the eighth consecutive quarter.
Management expects roughly $200 million of growth in both loans and deposits per quarter, with long-term return targets of 1.25% or better on assets. CEO Douglas L. Kennedy noted strong pipelines entering Q4 and expansion across New York City, Westchester, and Long Island. Keep an eye on whether margin holds as growth accelerates.
Sources
Mentioned: PGC