Peapack-Gladstone Financial Corp (PGC) is a $170 million bank holding company that operates through its wholly owned subsidiary Peapack-Gladstone Bank in New Jersey. When last reported, the bank had $1.635 billion in assets, $1.48 billion of deposits and a book value of $14.05 per share.
I have been reviewing regional banks lately and I have to say, this one stands out for all the right reasons. PGC has figured out a way to safely leverage its equity to generate much higher returns than most other banks with similar asset yields. Before giving everything away, below is my review of the bank's recent financial performance and current balance sheet (all graphs in thousands of dollars)....
Only subscribers can access this article, which is part of the PRO research library covering 3,770 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: