12.9 C
New York
Thursday, April 15, 2021
spot_img

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Is a Buy

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Is a Buy

Hedge Funds Taking An Interest in Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation
Ticker: NASDAQ:PGC
Price: $18.57

Business Summary

Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank.

The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.

The Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services, including services as trustee for pension and profit sharing plans, and other financial planning and advisory services.

Shayne Heffernan Trade Idea

“We predict the future price of Peapack-Gladstone Financial Corporation will come in around $22.40 which will give the stock a price increase of +20.62%.”

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 20.06.

The projected upper bound is: 21.73.

The projected lower bound is: 15.51.

The projected closing price is: 18.62.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 17.0279. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.43. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 54 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -83. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

Rex Takasugi – TD Profile

PEAPCK-GLDSTN FN closed up 0.630 at 18.570. Volume was 10% below average (neutral) and Bollinger Bands were 23% narrower than normal.

Open     High     Low      Close      Volume
18.920   19.000   17.700   18.570     80,342
Technical Outlook
Short Term:        Oversold
Intermediate Term: Bullish
Long Term:         Bearish
Moving Averages: 10-period    50-period     200-period
Close:           19.66        17.64         25.40
Volatility:      92           112           89
Volume:          80,167       82,251        75,277

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

PEAPCK-GLDSTN FN is currently 26.9% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.

Our volume indicators reflect moderate flows of volume into PGC.O (mildly bullish). Our trend forecasting oscillators are currently bullish on PGC.O and have had this outlook for the last 12 periods.

We invite you to try out any MetaStock product (including Add-Ons) for 30 days. If you are not convinced that it helps you make more accurate, educated trading decisions, just return it to us within the 30 days for a refund of the purchase price. It’s that simple. This policy does not apply to subscriptions.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of the NASDAQ Stock Market.

Trading and investing carries a HIGH LEVEL OF RISK, you could lose some or all of your investment. Trading commodities or any other financial instrument may not be suitable for all traders. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite. We accept no liability for any losses or damages you may incur—this means that you alone are responsible for your actions in any trading or investing activities.

Sources:
Peapack-Gladstone Financial Corp Company Website
Thomson Reuters Metastock and Eikon financial tools

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.
HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

Related Articles

Stay Connected

21,803FansLike
2,736FollowersFollow
0SubscribersSubscribe
- Advertisement -spot_img

Latest Articles