Shares of Peapack Gladstone (PGC), a financial services company, surged by 5.72% on Tuesday, October 23, 2024, driven by robust quarterly earnings and a positive analyst rating.
Peapack-Gladstone Financial Corp reported better-than-expected earnings for the third quarter ended September 30, 2024. The company posted an adjusted earnings per share (EPS) of $0.43, surpassing analysts' consensus estimate of $0.37. Revenue also rose by 1.3% year-over-year to $56.62 million, exceeding Wall Street's expectations of $55.85 million.
The strong financial performance, coupled with a "Buy" rating from Janney Montgomery, boosted investor confidence in Peapack Gladstone. The positive outlook from the reputable research firm likely contributed to the upward momentum in the stock price.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.