Peapack-Gladstone Q3 revenue rises on higher net interest income

Peapack-Gladstone Financial

27/10/2026 20:45

Overview
New Jersey private bank's Q3 revenue grew 24% yr/yr but missed analyst expectations
Q3 EPS rose to $0.99 YoY from $0.54
Company completed $20 mln convertible preferred stock issuance to support growth

Outlook
Company says it enters Q4 with strong loan and deposit pipelines
Company to focus on productivity, pricing, expense discipline and credit quality in Q4
Company expects continued relationship-based balance sheet growth while maintaining capital levels

Result Drivers
NET INTEREST INCOME - Co said revenue growth was mainly driven by higher net interest income and improved earning-asset yields
EXPENSE DISCIPLINE - Co said expense discipline contributed to positive operating leverage and profitability
LOAN AND DEPOSIT GROWTH - Co attributed loan and deposit growth to investments in new teams and expanded geographic presence

Company press release: ID:nGNXDwgBQ

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$87.50 mln
$89.22 mln (3 Analysts)
Q3 EPS
 
$0.99
 
Q3 Net Income
 
$18.50 mln
 
Q3 Net Interest Income
 
$67.50 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Peapack-Gladstone Financial Corp is $55.50, about 21.2% above its October 26 closing price of $45.78
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Oct 27 - Seacoast Banking Q3 revenue up 37% but slightly misses estimates
Oct 27 - UMB Financial Q3 profit rises on record loans
Oct 27 - Banc of California Q3 EPS rises on higher net interest income

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)