Headquartered in Bedminster, NJ Fiscal year ends December NASDAQ: PGC peapackprivate.com
Peapack-Gladstone Financial Corporation is a New Jersey bank holding company operating through Peapack Private Bank & Trust, a boutique private bank with total assets of $8.5 billion and wealth assets under management and administration of $13.6 billion. Founded in 1921, the bank serves successful individuals, families, business owners, family offices, and their trusted advisors through personalized relationships encompassing banking, lending, wealth management, investment banking, and trust solutions. The company operates across the Metropolitan New York market including New Jersey, New York City, Westchester, and Long Island, with financial centers in NYC (300 Park Avenue flagship), Rye Brook, Garden City, and Melville. Its Wealth Management division delivers investment management, fiduciary, tax, estate, and financial planning services. The bank's loan portfolio of $7.1 billion is concentrated in commercial and industrial loans (43%), commercial real estate, and multifamily lending, while its $7.4 billion deposit base is relationship-driven with no reliance on brokered funding. The company has a managed runoff strategy for its $775 million NY rent-regulated multifamily portfolio. Updated
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.
Peapack-Gladstone Financial Corporation is a New Jersey bank holding company operating through Peapack Private Bank & Trust, a boutique private bank with total assets of $8.5 billion and wealth assets under management and administration of $13.6 billion.
The Wall Street consensus 12-month price target for PGC is $56.00.