Peapack-Gladstone Financial Corporation (PGC) 10-Year Financial Performance & Capital Metrics

PGC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutPeapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts. The company also provides working capital lines of credit, term loans for fixed asset acquisitions, commercial mortgages, multi-family mortgages, and other forms of asset-based financing services; and residential mortgages, home equity lines of credit, and other second mortgage loans. In addition, it offers corporate and industrial (C&I) and equipment finance, commercial real estate, multifamily, residential, and consumer lending activities; treasury management services; C&I advisory services; escrow management; deposit generation; asset and investment management services; personal trust services, including services as executor, trustee, administrator, custodian, and guardian; and other financial planning, tax preparation, and advisory services. Further, the company provides telephone and Internet banking, merchant credit card, and customer support sales services. Its private banking clients include businesses, non-profits, and consumers; and wealth management clients comprise individuals, families, foundations, endowments, trusts, and estates. The company operates its private banking locations in Bedminster, Morristown, Princeton, and Teaneck, New Jersey; and wealth management branches in Somerset, Morris, Hunterdon, and Union counties, as well as operates automated teller machines at 20 locations. Peapack-Gladstone Financial Corporation was founded in 1921 and is headquartered in Bedminster, New Jersey.Show more

Net Interest Income $149M -4.5%
Total Revenue $403M +7.8%
Net Income $33M -32.5%
Return on Equity 5.55% -36.6%
Net Interest Margin 2.13% -11.8%
Efficiency Ratio 42.61% +10.2%
ROA 0.49% -35.8%
Equity / Assets 8.64% -4.1%
Book Value per Share 33.96 +5.0%
Tangible BV/Share 31.44 +5.5%
Debt/Equity 0.29 -68.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 42.6% efficiency ratio
✓Trading at only 0.9x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y15.66%

5Y11.35%

3Y20.76%

TTM-

Profit (Net Income) CAGR

10Y8.28%

5Y-7.01%

3Y-16.48%

TTM6.37%

EPS CAGR

10Y4.25%

5Y-5.39%

3Y-14.21%

TTM7.18%

ROCE

10Y Avg9.22%

5Y Avg8.54%

3Y Avg9.86%

Latest5.92%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	84.45M	96.44M	111.14M	115.16M	120.27M	127.6M	138.06M	176.08M	156.09M	149.01M
NII Growth %	0.24%	0.14%	0.15%	0.04%	0.04%	0.06%	0.08%	0.28%	-0.11%	-0.05%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	99.14M	117.05M	138.73M	159.69M	180.67M	165.75M	160.07M	211.88M	304.01M	327.8M
Interest Expense	14.69M	20.61M	27.59M	44.52M	60.4M	38.15M	22.01M	35.8M	147.92M	178.79M
Loan Loss Provision	7.1M	7.5M	5.85M	3.55M	4M	36.83M	6.47M	6.35M	14.09M	7.5M
Non-Interest Income+	21.32M	26.89M	34.63M	43.96M	54.7M	61.76M	68.71M	62.85M	69.74M	75.11M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	120.46M	143.94M	173.35M	203.65M	235.37M	227.51M	228.78M	274.72M	373.75M	402.91M
Revenue Growth %	0.28%	0.19%	0.2%	0.17%	0.16%	-0.03%	0.01%	0.2%	0.36%	0.08%
Non-Interest Expense	66.53M	73.08M	85.61M	97.85M	104.85M	120.53M	122.64M	130.23M	144.46M	171.66M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	32.14M	42.74M	54.31M	57.72M	66.12M	32M	77.66M	102.34M	67.28M	44.95M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.32%	0.33%	0.27%	0.06%	0.15%	-0.52%	1.43%	0.32%	-0.34%	-0.33%
Pretax Income+	32.14M	42.74M	54.31M	57.72M	66.12M	32M	77.66M	102.34M	67.28M	44.95M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	12.17M	16.26M	17.81M	13.55M	18.69M	5.81M	21.04M	28.1M	18.43M	11.96M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	19.97M	26.48M	36.5M	44.17M	47.43M	26.19M	56.62M	74.25M	48.85M	32.99M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.34%	0.33%	0.38%	0.21%	0.07%	-0.45%	1.16%	0.31%	-0.34%	-0.32%
Net Income (Continuing)	19.97M	26.48M	36.5M	44.17M	47.43M	26.19M	56.62M	74.25M	48.85M	32.99M
EPS (Diluted)+	1.29	1.60	2.03	2.31	2.44	1.37	2.93	4.00	2.71	1.85
EPS Growth %	0.06%	0.24%	0.27%	0.14%	0.06%	-0.44%	1.14%	0.37%	-0.32%	-0.32%
EPS (Basic)	1.31	1.62	2.06	2.33	2.46	1.39	3.01	4.09	2.74	1.87
Diluted Shares Outstanding	15.44M	16.52M	17.94M	19.15M	19.41M	19.08M	19.29M	18.57M	18.05M	17.84M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	70.06M	162.59M	113.35M	160.67M	208.08M	653.22M	146.8M	190.07M	187.67M	391.37M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	3.17B	3.59B	4B	4.28B	4.77B	4.98B	5.7B	5.91B	6.04B	6.35B
Investments Growth %	0.23%	0.13%	0.11%	0.07%	0.12%	0.04%	0.15%	0.04%	0.02%	0.05%
Long-Term Investments	2.97B	3.28B	3.67B	3.9B	4.38B	4.35B	4.91B	5.36B	5.49B	6.3B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.57M	1.57M	17.11M	24.42M	30.21M	33.1M	36.21M	36.21M	36.21M	36.21M
Intangible Assets	1.71M	1.58M	6.73M	7.98M	10.38M	10.79M	12.69M	11.12M	9.8M	8.71M
PP&E (Net)	30.25M	30.37M	29.48M	27.41M	38.12M	35.36M	36.4M	39.54M	38.35M	70.16M
Other Assets	71.9M	72.13M	87.08M	109.36M	115.99M	160.43M	122.06M	141.52M	131.87M	111.36M
Total Current Assets	272.51M	476.13M	450.43M	549.42M	609.33M	1.3B	965.15M	769.88M	768.96M	471.41M
Total Non-Current Assets	3.09B	3.4B	3.81B	4.07B	4.57B	4.59B	5.11B	5.58B	5.71B	6.54B
Total Assets+	3.36B	3.88B	4.26B	4.62B	5.18B	5.89B	6.08B	6.35B	6.48B	7.01B
Asset Growth %	0.25%	0.15%	0.1%	0.08%	0.12%	0.14%	0.03%	0.05%	0.02%	0.08%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0.01%	0.01%	0%
Accounts Payable	0	0	0	0	7.95M	0	0	0	0	18.51M
Total Debt+	134.61M	120.25M	129.99M	199.56M	336.54M	213.28M	148.63M	530.92M	553.39M	178.48M
Net Debt	64.56M	-42.34M	16.65M	38.88M	128.46M	-439.94M	1.83M	340.84M	365.72M	-212.89M
Long-Term Debt	83.69M	110.56M	120.92M	191.19M	188.42M	181.79M	132.7M	132.99M	133.27M	133.56M
Short-Term Debt	40.7M	0	0	0	128.1M	15M	0	379.53M	403.81M	0
Other Liabilities	0	0	0	0	0	177.09M	0	0	0	0
Total Current Liabilities	3B	3.43B	3.73B	3.93B	4.44B	4.95B	5.34B	5.65B	5.74B	6.23B
Total Non-Current Liabilities	93.91M	120.25M	129.99M	215.58M	234.59M	408.35M	187.95M	166.82M	149.58M	178.48M
Total Liabilities	3.09B	3.55B	3.86B	4.15B	4.68B	5.36B	5.53B	5.82B	5.89B	6.41B
Total Equity+	275.68M	324.21M	403.68M	469.01M	503.65M	527.12M	546.39M	532.98M	583.68M	605.85M
Equity Growth %	0.14%	0.18%	0.25%	0.16%	0.07%	0.05%	0.04%	-0.02%	0.1%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.08%	0.09%	0.1%	0.1%	0.1%	0.05%	0.11%	0.14%	0.09%	0.06%
Book Value per Share	17.86	19.63	22.50	24.49	25.95	27.63	28.32	28.70	32.34	33.96
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	13.72M	14.72M	15.86M	16.46M	16.73M	16.96M	17.22M	17.51M	17.83M	17.95M
Additional Paid-in Capital	213.2M	238.71M	283.55M	309.09M	319.38M	326.59M	332.36M	338.71M	346.95M	348.26M
Retained Earnings	58.12M	81.3M	114.47M	154.8M	199.03M	221.44M	274.29M	348.8M	394.09M	423.55M
Accumulated OCI	-379K	-1.53M	-1.21M	-2.35M	-1.5M	-1.39M	-12.37M	-74.21M	-64.88M	-66.41M
Treasury Stock	-8.99M	-8.99M	-8.99M	-8.99M	-29.99M	-36.48M	-65.1M	-97.83M	-110.32M	-117.51M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	30.31M	42.93M	55.94M	64.25M	86.3M	36.72M	75.46M	118.9M	70.08M	71.1M
Operating CF Growth %	0.11%	0.42%	0.3%	0.15%	0.34%	-0.57%	1.06%	0.58%	-0.41%	0.01%
Net Income	19.97M	26.48M	36.5M	44.17M	47.43M	26.19M	56.62M	74.25M	48.85M	32.99M
Depreciation & Amortization	4M	3.22M	3.6M	4.31M	4.17M	4.41M	4.79M	5.04M	5.01M	4.63M
Deferred Taxes	-4.04M	952K	14.12M	17.04M	10.01M	8.22M	9.45M	-6.64M	-15.28M	-14.3M
Other Non-Cash Items	9.12M	10.5M	11.37M	10.08M	7.06M	29.16M	8.83M	42.83M	34.32M	11.03M
Working Capital Changes	936K	1.63M	-9.76M	-11.54M	17.46M	-31.5M	-4.35M	3.28M	-3M	36.6M
Cash from Investing+	-625.43M	-433.18M	-435.51M	-297.71M	-486.96M	-214M	-753.8M	-356.07M	-147.48M	-303.43M
Purchase of Investments	-8.05M	-187.04M	-91.56M	-156.89M	-215.97M	-452.05M	-762.45M	-420.17M	-629.37M	-899.67M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-800K	0	-13.5M	-3.5M	-2.6M	-4.16M	-5.5M	0	0	0
Other Investing	-757.1M	-316.41M	-394.52M	-235.11M	-475.31M	28.22M	-435.58M	-498.31M	-153.37M	-64.12M
Cash from Financing+	634.07M	482.78M	330.33M	280.79M	448.08M	622.41M	171.82M	280.44M	75M	436.02M
Dividends Paid	-3.1M	-3.3M	-3.55M	-3.71M	-3.87M	-3.78M	-3.77M	-3.65M	-3.56M	-3.53M
Share Repurchases	-81K	-554K	-1.83M	-1.54M	-22.11M	-7.23M	-31.01M	-35.66M	-15.74M	-8.07M
Stock Issued	13.65M	22.46M	36.59M	16.68M	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	1000K	1000K	1000K	1000K	-1000K	1000K	1000K	-1000K
Other Financing	637.25M	478.07M	288.89M	199.26M	348.95M	576.28M	448.69M	-59.79M	70.01M	851.43M
Net Change in Cash+	38.95M	92.53M	-49.24M	47.33M	47.41M	445.14M	-506.52M	43.27M	-2.4M	203.7M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	31.21M	70.16M	162.69M	113.45M	160.77M	208.19M	653.32M	146.8M	190.07M	187.67M
Cash at End	70.16M	162.69M	113.45M	160.77M	208.19M	653.32M	146.8M	190.07M	187.67M	391.37M
Interest Paid	13.73M	19.96M	26.51M	42.77M	60.29M	38.28M	22.36M	33.16M	141.17M	170.8M
Income Taxes Paid	15.57M	14.87M	11.6M	3.6M	3.6M	9.79M	16.08M	25M	18.47M	17.67M
Free Cash Flow+	28.38M	39.71M	53.55M	63.19M	84.59M	33.65M	71.53M	115.38M	66.8M	63.01M
FCF Growth %	0.22%	0.4%	0.35%	0.18%	0.34%	-0.6%	1.13%	0.61%	-0.42%	-0.06%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.71%	8.83%	10.03%	10.12%	9.75%	5.08%	10.55%	13.76%	8.75%	5.55%
Return on Assets (ROA)	0.66%	0.73%	0.9%	1%	0.97%	0.47%	0.95%	1.19%	0.76%	0.49%
Net Interest Margin	2.51%	2.49%	2.61%	2.49%	2.32%	2.17%	2.27%	2.77%	2.41%	2.13%
Efficiency Ratio	55.23%	50.77%	49.39%	48.05%	44.55%	52.98%	53.6%	47.4%	38.65%	42.61%
Equity / Assets	8.19%	8.36%	9.47%	10.16%	9.72%	8.95%	8.99%	8.39%	9.01%	8.64%
Book Value / Share	17.86	19.63	22.5	24.49	25.95	27.63	28.32	28.7	32.34	33.96
NII Growth	24.39%	14.19%	15.25%	3.62%	4.44%	6.09%	8.2%	27.54%	-11.35%	-4.54%
Dividend Payout	15.52%	12.45%	9.72%	8.4%	8.15%	14.43%	6.67%	4.91%	7.28%	10.7%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Banking	-	-	-	-	-	-	-	177.81M	168.63M	163.47M
Banking Growth	-	-	-	-	-	-	-	-	-5.17%	-3.06%
Wealth Management Division	21.54M	23.8M	29.47M	32.36M	37.51M	40.05M	52.99M	54.65M	61.04M	64.66M
Wealth Management Division Growth	-	10.49%	23.82%	9.79%	15.92%	6.77%	32.31%	3.14%	11.69%	5.93%
Banking	86.62M	101.55M	116.3M	-	-	-	-	-	-	-
Banking Growth	-	17.23%	14.52%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Peapack-Gladstone Financial Corporation (PGC) has a price-to-earnings (P/E) ratio of 15.8x. This is roughly in line with market averages.

Growth & Financials

Peapack-Gladstone Financial Corporation (PGC) grew revenue by 7.8% over the past year. This is steady growth.

Yes, Peapack-Gladstone Financial Corporation (PGC) is profitable, generating $34.4M in net income for fiscal year 2024 (8.2% net margin).

Dividend & Returns

Yes, Peapack-Gladstone Financial Corporation (PGC) pays a dividend with a yield of 0.68%. This makes it attractive for income-focused investors.

Peapack-Gladstone Financial Corporation (PGC) has a return on equity (ROE) of 5.5%. This is below average, suggesting room for improvement.

Industry Metrics

Peapack-Gladstone Financial Corporation (PGC) has a net interest margin (NIM) of 2.1%. NIM has been under pressure due to interest rate environment.

Peapack-Gladstone Financial Corporation (PGC) has an efficiency ratio of 42.6%. This is excellent, indicating strong cost control.

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