Peapack-Gladstone (PGC) got here out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.50 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 10.64%. 1 / 4 in the past, it was anticipated that this financial institution holding firm would put up earnings of $0.42 per share when it truly produced earnings of $0.43, delivering a shock of two.38%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates two occasions.
Peapack-Gladstone
The sustainability of the inventory’s speedy value motion based mostly on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
Peapack-Gladstone shares have added about 3.2% because the starting of the yr versus the S&P 500’s achieve of two.2%.
What’s Subsequent for Peapack-Gladstone?
Whereas Peapack-Gladstone has outperformed the market thus far this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis reveals a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a formidable monitor file of harnessing the ability of earnings estimate revisions.
Forward of this earnings release, the estimate revisions pattern for Peapack-Gladstone: blended. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You’ll be able to see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It is going to be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.54 on $62.6 million in revenues for the approaching quarter and $2.73 on $265 million in revenues for the present fiscal yr.
Traders ought to be aware of the truth that the outlook for the trade can have a cloth impression on the efficiency of the inventory as properly. By way of the Zacks Business Rank, Banks – Northeast is at present within the high 9% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One other inventory from the identical trade, LCNB (LCNB), has but to report outcomes for the quarter ended December 2024.
This holding firm for LCNB Nationwide Financial institution is anticipated to put up quarterly earnings of $0.30 per share in its upcoming report, which represents a year-over-year change of -11.8%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
LCNB’s revenues are anticipated to be $20.9 million, up 8.5% from the year-ago quarter.
Ought to You Spend money on Peapack-Gladstone Monetary Company (PGC)?
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Zacks Funding Analysis has been dedicated to offering buyers with instruments and impartial analysis since 1978. For greater than 1 / 4 century, the Zacks Rank stock-rating system has greater than doubled the S&P 500 with a median achieve of +24.08% per yr. (These returns cowl a interval from January 1, 1988 via Could 6, 2024.)
Peapack-Gladstone Financial Corporation (PGC) : Free Stock Analysis Report
LCNB Corporation (LCNB) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
