Raymond James Rates Peapack-Gladstone Financial (PGC) buy

The firm maintained its buy rating and $55 price target for the New Jersey-based bank, following a series of target increases across the sector, a 16.21% upside from the current price.

By TradeTexts Research Desk · Published Jul 1, 2026, 1:01 PM EDT · Updated Jul 1, 2026, 3:01 PM EDT

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Raymond James rated Peapack-Gladstone Financial Corporation ($PGC) "buy" with a $55 price target on July 1, 2026.

Since the rating, $PGC is down 6.8% after 1 week, down 4.9% after 1 month and down 10.2% to date (from the $48.28 close on Jul 1, 2026).

PGC Peapack-Gladstone Financial Corporation

$43.38 +56.66% year to date

Daily close · Oct 16, 2026

Key Points

Analyst Steve Moss at Raymond James reiterated a buy rating on Peapack-Gladstone Financial Corporation with a $55.00 price target on July 1, 2026.
Raymond James's $55 price target implies 16.21% upside from Peapack-Gladstone Financial Corporation's ($PGC) current $47.33 share price.
The bank's stock was trading at $47.33 on Wednesday, sitting well above its 200-day moving average of $39.01 and nearing its 52-week high of $49.14.
Multiple Wall Street firms have recently boosted their price targets for the company, with the consensus target now reaching $56.00 among four covering analysts.

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Raymond James analyst Steve Moss reiterated a buy rating on Peapack-Gladstone Financial Corporation (PGC: NasdaqGS) on July 1, 2026. The firm kept its price target at $55.00, suggesting room for the stock to rise from its recent levels. This update follows a pattern of bullish sentiment from the firm, which previously raised its target from $49.00 to $55.00 earlier this summer as part of a broader review of the banking sector.

Analyst rating track record

Raymond James vs. the S&P 500

YTD return +93% hypothetical

All-time return +47.53% S&P 500 +50.81%

vs. S&P 500 -3.28% behind the index

Hypothetical returns from Raymond James's disclosed trades, not real profit or advice. How we model this.

Analysts Set New Price Targets

Several other firms have adjusted their views on Peapack-Gladstone recently. On August 3, 2026, Keefe, Bruyette & Woods reiterated an Outperform rating and raised its price target from $55.00 to $56.00. Piper Sandler has also been active, maintaining an Overweight rating on July 29, 2026, while lifting its target from $54.00 to $58.00. That followed an earlier move by Piper Sandler on June 26, 2026, when it moved its target to $54.00 from $50.00. Currently, four analysts provide opinions on the stock, resulting in a consensus mean price target of $56.00.

Stock Price Performance

On Wednesday, shares of Peapack-Gladstone were trading at $47.33. The stock has climbed significantly from its 52-week low of $24.71 and is currently trading near its 52-week high of $49.14. The company's market price is also trending above its 50-day moving average of $45.87 and its 200-day moving average of $39.01. With a P/E ratio of 15.7 and a forward P/E of 9.4, the market is pricing the bank at a level that suggests expectations for steady future performance.

12-month forecast

$PGC price target

Peapack-Gladstone Financial Corporation daily closes and this analyst's $55 target. Not advice.

Recent Earnings

In its most recent financial reports, Peapack-Gladstone generated $288.68 million in revenue, representing growth of 23.4%. The company achieved a net margin of 18.0% and earnings per share of $2.88. Its return on equity stood at 7.7% for the period. Investors are looking toward October 28, 2026, when the company is scheduled to release its next quarterly earnings update.

Dividend Income

Peapack-Gladstone pays an annual dividend of $0.20 per share, which provides a yield of 0.44%. The company maintains a conservative dividend payout ratio of 6.9%, meaning it uses a small portion of its earnings to cover these payments while retaining the rest for operations or growth.

Private Banking and Wealth Management

Peapack-Gladstone Financial Corporation is the parent company of Peapack Private Bank & Trust. It specializes in high-touch services for wealthy individuals, families, and business owners. Based in Bedminster, New Jersey, it provides everything from standard checking and commercial loans to complex trust services and investment management. The firm's focus on private banking often makes it a unique player among regional banks in the Northeast.

What's Ahead for Peapack-Gladstone Financial Corporation

The reiteration from Raymond James and the steady stream of target increases from other firms suggest that Wall Street remains comfortable with the bank's current direction. While these analyst ratings and price targets offer a glimpse into institutional sentiment as of July and August 2026, they are subject to change based on interest rate shifts or broader economic conditions. Shareholders will be watching the late October earnings report to see if the bank's actual performance matches these higher expectations.