NASDAQ$PGC
Peapack-Gladstone Financial Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Peapack-Gladstone's financial performance declined due to challenging interest rate environment and treasury yield curve inversion.
Peapack-Gladstone Financial Corporation reported a decrease in net income and EPS for Q2 2023 compared to the same period last year, impacted by net interest margin compression. Loans grew, but deposits declined. The company is expanding into New York City.
- Total revenue decreased to $57.5 million compared to $61.4 million in Q2 2022.
- Net income was $13.1 million, a decrease from $20.1 million in Q2 2022.
- Diluted earnings per share (EPS) decreased to $0.73, compared to $1.08 in Q2 2022.
- Loans grew by $70 million to $5.4 billion, while deposits decreased by $110 million to $5.2 billion during the quarter.
Headline financials
Revenue & EPS history
Peapack-Gladstone · Revenue · Quarterly
$57.5M
Revenue by segment
Peapack-Gladstone · $14.5M total across 2 segments · Q2 2021
- Wealth Mgmt Fees$13M+30.3%89.9%
- Capital Markets$1.46M+44.6%10.1%
Forward guidance
Peapack-Gladstone plans to expand into New York City.
Tailwinds
- Expansion into New York City with a mid-town Manhattan location.
- Hiring experienced financial service professionals in the tri-state area.
- Capitalizing on changes in the New York City banking landscape.
- Jeanne Scungio joined as Market President of New York City.
- Focus on delivering excellent service and advice to clients.
Headwinds
- Challenging interest rate environment.
- Persistent inversion of the treasury yield curve.
- Compression of net interest margin.
- Reduction in net interest income.
- Economic uncertainty and rising interest rates may subside loan demand.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.4%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+4.1%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+9.7%
Q3 2024
Best reaction
-12.3%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.7% | +8.9% | +8.8% | |
| Q3 2025 | +1.0% | +2.0% | +9.8% | |
| Q2 2025 | -0.9% | +1.8% | +9.3% | |
| Q1 2025 | -1.2% | -0.8% | -5.0% | |
| Q4 2024 | -1.2% | -3.5% | -1.1% | |
| Q3 2024 | +9.7% | +10.3% | +25.7% | |
| Q2 2024 | +1.4% | +7.6% | -1.8% | |
| Q1 2024 | -6.6% | -7.2% | -8.2% | |
| Q4 2023 | +4.0% | +4.6% | -18.7% | |
| Q3 2023 | -7.0% | -8.0% | +5.4% | |
| Q2 2023 | +2.5% | -1.2% | -9.0% | |
| Q1 2023 | -2.2% | -2.4% | +0.1% | |
| Q4 2022 | +1.0% | +5.0% | +6.2% | |
| Q3 2022 | +4.9% | +4.3% | +10.0% | |
| Q2 2022 | +5.1% | +6.9% | +9.3% | |
| Q1 2022 | -2.6% | +1.3% | +4.6% | |
| Q4 2021 | +6.7% | +8.7% | +9.2% | |
| Q3 2021 | +2.4% | +2.9% | +2.4% | |
| Q2 2021 | +5.6% | +3.8% | +9.4% | |
| Q1 2021 | +2.3% | +4.4% | +6.2% | |
| Q4 2020 | +5.6% | +8.9% | +23.4% | |
| Q3 2020 | +2.3% | +3.1% | +36.6% | |
| Q2 2020 | +1.8% | -3.3% | +2.5% | |
| Q1 2020 | -12.3% | -1.7% | +8.9% | |
| Q4 2019 | +3.0% | +4.0% | -4.7% | |
| Q3 2019 | +3.3% | +4.5% | +7.4% | |
| Q2 2019 | +1.3% | +2.0% | -2.8% | |
| Q1 2019 | +8.4% | +5.1% | +2.0% | |
| Q4 2018 | +1.4% | -0.4% | +10.6% | |
| Q3 2018 | -2.4% | -3.8% | -1.4% | |
| Q2 2018 | -2.7% | -3.4% | -2.1% | |
| Q1 2018 | -2.7% | -4.8% | +3.8% | |
| Q4 2017 | +3.8% | +1.2% | -6.3% | |
| Q3 2017 | -0.6% | +1.2% | -4.3% | |
| Q2 2017 | -3.6% | -2.2% | -6.1% | |
| Q1 2017 | +6.4% | +3.3% | -3.5% | |
| Q4 2016 | -4.3% | -2.2% | +1.1% | |
| Q3 2016 | -2.5% | -2.9% | +22.2% | |
| Q2 2016 | +0.0% | +0.9% | -0.2% | |
| Q1 2016 | +2.7% | — | — | |
| Q4 2015 | -6.5% | — | — | |
| Q3 2015 | +5.5% | — | — | |
| Q2 2015 | +1.4% | — | — | |
| Q1 2015 | +3.3% | — | — | |
| Q4 2014 | +0.6% | — | — | |
| Q3 2014 | -4.2% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | +2.9% | — | — | |
| Q4 2013 | -1.5% | — | — | |
| Q3 2013 | -2.6% | — | — | |
| Q2 2013 | -1.3% | — | — | |
| Q1 2013 | -1.7% | — | — | |
| Q4 2009 | -1.5% | — | — | |
| Q1 2010 | -1.5% | — | — | |
| Q4 2012 | -1.5% | — | — | |
| Q3 2012 | +0.1% | — | — | |
| Q2 2012 | -3.0% | — | — | |
| Q1 2011 | -1.5% | — | — | |
| Q1 2012 | +3.7% | — | — | |
| Q4 2011 | -1.7% | — | — | |
| Q3 2011 | +0.3% | — | — | |
| Q3 2010 | +0.3% | — | — | |
| Q2 2010 | +1.4% | — | — | |
| Q2 2011 | +1.4% | — | — | |
| Q4 2010 | +1.4% | — | — |
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