Peapack-Gladstone Financial Third Quarter 2024 Earnings: Beats Expectations

In This Article:

Peapack-Gladstone Financial (NASDAQ:PGC) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$55.4m (up 11% from 3Q 2023).

  • Net income: US$7.59m (down 13% from 3Q 2023).

  • Profit margin: 14% (down from 18% in 3Q 2023). The decrease in margin was driven by higher expenses.

  • EPS: US$0.43 (down from US$0.49 in 3Q 2023).

earnings-and-revenue-history
NasdaqGS:PGC Earnings and Revenue History November 10th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Peapack-Gladstone Financial Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 12% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Peapack-Gladstone Financial that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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