Peapack-Gladstone (PGC) Tops Q3 Earnings Estimates

Company Performance - Peapack-Gladstone (PGC) reported quarterly earnings of $0.43 per share, exceeding the Zacks Consensus Estimate of $0.42 per share, but down from $0.50 per share a year ago, indicating a 14% year-over-year decline [1] - The company posted revenues of $56.62 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.78%, and showing a slight increase from $55.87 million year-over-year [1] - Over the last four quarters, Peapack-Gladstone has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates during the same period [1] Stock Performance - Peapack-Gladstone shares have declined approximately 4.6% since the beginning of the year, contrasting with the S&P 500's gain of 22.7% [2] - The current consensus EPS estimate for the upcoming quarter is $0.43 on revenues of $59.08 million, and for the current fiscal year, it is $1.75 on revenues of $227.16 million [4] Industry Outlook - The Banks - Northeast industry, to which Peapack-Gladstone belongs, is currently ranked in the top 21% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - The performance of Peapack-Gladstone's stock may be influenced by the overall industry outlook, as empirical research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than a factor of 2 to 1 [5]