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Peapack-Gladstone (PGC) Reports Q2 Earnings: What Key Metrics Have to Say
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Peapack-Gladstone (PGC - Free Report) reported $57.5 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 6.4%. EPS of $0.81 for the same period compares to $1.08 a year ago.
The reported revenue represents a surprise of -4.44% over the Zacks Consensus Estimate of $60.17 million. With the consensus EPS estimate being $0.90, the EPS surprise was -10.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Peapack-Gladstone performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net interest margin: 2.49% versus the two-analyst average estimate of 2.68%.
Efficiency ratio: 65.56% versus 59.22% estimated by two analysts on average.
Net Interest Income: $38.92 million versus $41.09 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -9.3% change.
Total Non Interest Income: $18.58 million compared to the $18.14 million average estimate based on two analysts.
Shares of Peapack-Gladstone have returned +11.9% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Peapack-Gladstone (PGC) Reports Q2 Earnings: What Key Metrics Have to Say
Peapack-Gladstone (PGC - Free Report) reported $57.5 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 6.4%. EPS of $0.81 for the same period compares to $1.08 a year ago.
The reported revenue represents a surprise of -4.44% over the Zacks Consensus Estimate of $60.17 million. With the consensus EPS estimate being $0.90, the EPS surprise was -10.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Peapack-Gladstone performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 2.49% versus the two-analyst average estimate of 2.68%.
- Efficiency ratio: 65.56% versus 59.22% estimated by two analysts on average.
- Net Interest Income: $38.92 million versus $41.09 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -9.3% change.
- Total Non Interest Income: $18.58 million compared to the $18.14 million average estimate based on two analysts.
View all Key Company Metrics for Peapack-Gladstone here>>>Shares of Peapack-Gladstone have returned +11.9% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.