What Will Happen to Peapack-Gladstone Financial Corporation (PGC) Next? The Stock Formed a Several Months Wedge Up Pattern

February 15, 2018 - By Adrian Mccoy

Investors sentiment decreased to 2.33 in 2017 Q3. Its down 0.97, from 3.3 in 2017Q2. It dropped, as 5 investors sold Peapack-Gladstone Financial Corporation shares while 22 reduced holdings. 19 funds opened positions while 44 raised stakes. 12.41 million shares or 47.80% less from 23.77 million shares in 2017Q2 were reported.
Credit Suisse Ag has invested 0% in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Matarin Cap Management Ltd Liability Corporation has 29,634 shares for 0.08% of their portfolio. Invesco has 13,611 shares. D E Shaw & has invested 0% in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Legal General Grp Inc Public Limited Com has invested 0% in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Vanguard Grp has invested 0% in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Cannell Peter B And Company Incorporated invested in 0.01% or 8,171 shares. Martingale Asset Management Limited Partnership stated it has 0.05% in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Swiss State Bank holds 0% or 24,900 shares. Tower Ltd Liability Co (Trc) holds 0.01% of its portfolio in Peapack-Gladstone Financial Corporation (NASDAQ:PGC) for 2,289 shares. State Street Corporation invested 0% in Peapack-Gladstone Financial Corporation (NASDAQ:PGC). Geode Mngmt Limited Liability Corp holds 153,900 shares or 0% of its portfolio. Ny State Teachers Retirement Sys holds 1,500 shares or 0% of its portfolio. Cornerstone Capital Mngmt Limited Liability Com holds 56,574 shares. Balyasny Asset Management Limited Liability Company holds 6,500 shares.

Since December 12, 2017, it had 0 insider purchases, and 3 selling transactions for $35,175 activity.

The stock of Peapack-Gladstone Financial Corporation (PGC) formed an up wedge with $36.35 target or 4.00 % above today’s $34.95 share price. The 7 months wedge indicates low risk for the $650.76M company. If the $36.35 price target is reached, the company will be worth $26.03 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.52% or $0.18 during the last trading session, reaching $34.95. About 19,866 shares traded. Peapack-Gladstone Financial Corporation (NASDAQ:PGC) has risen 63.29% since February 15, 2017 and is uptrending. It has outperformed by 46.59% the S&P500.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Ratings Coverage

Among 4 analysts covering Peapack-Gladstone Financial (NASDAQ:PGC), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Peapack-Gladstone Financial had 8 analyst reports since November 7, 2016 according to SRatingsIntel. The firm earned “Buy” rating on Monday, November 7 by Sandler O’Neill. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Monday, November 27. The stock of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) earned “Buy” rating by Keefe Bruyette & Woods on Thursday, December 21. Keefe Bruyette & Woods maintained the shares of PGC in report on Monday, February 5 with “Buy” rating. The stock has “Buy” rating by Hovde Group on Thursday, February 1. As per Monday, July 17, the company rating was initiated by Keefe Bruyette & Woods. The rating was downgraded by Sandler O’Neill to “Hold” on Monday, December 19.

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