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The latest update is out from Peapack-Gladstone Financial ( (PGC) ).
On March 26, 2026, Peapack-Gladstone Financial Corporation completed a $30 million private placement of 6.00% Non-Cumulative Perpetual Convertible Preferred Stock, Series B, to affiliates of Strategic Value Bank Partners, as part of a $50 million preferred stock commitment running through December 31, 2027. The preferred shares, which are expected to qualify as Tier 1 capital subject to regulatory approval, carry a 6% dividend, are non-callable for five years, convertible into common stock after five years at a set price, and may be redeemed by the company thereafter.
The company can issue an additional $20 million of Series B preferred stock during the commitment period, with exclusivity granted to the purchasers for any such issuances. Net proceeds will support general corporate purposes, including organic growth, investments at the holding-company or bank level, acquisitions or other business combinations, and debt reduction or refinancing.
Management framed the transaction as strengthening capital flexibility to sustain expansion in the New York metropolitan market while maintaining targeted capital levels and improving the efficiency and quality of the capital structure. Strategic Value Bank Partners highlighted its long-standing investment in Peapack-Gladstone and described the deal as a deepening of its partnership and a vote of confidence in the bank’s private banking and wealth management growth strategy.
The most recent analyst rating on (PGC) stock is a Buy with a $39.00 price target. To see the full list of analyst forecasts on Peapack-Gladstone Financial stock, see the PGC Stock Forecast page.
Spark’s Take on PGC Stock
According to Spark, TipRanks’ AI Analyst, PGC is a Neutral.
The score is primarily driven by mixed financial performance—solid revenue growth but notable margin/ROE and 2025 cash-flow weakening—partly offset by constructive technical trends and a reasonable P/E valuation. Corporate actions (debt redemption and leadership/governance moves) add a modest positive tilt.
To see Spark’s full report on PGC stock, click here.
More about Peapack-Gladstone Financial
Peapack-Gladstone Financial Corporation is a New Jersey-based bank holding company for Peapack Private Bank & Trust, with $7.5 billion in assets and $13.1 billion in assets under management and/or administration as of December 31, 2025. The bank focuses on private banking, wealth management, investment banking, and commercial and personal banking services for clients across the New York metropolitan market.
Its wealth management division provides comprehensive financial, tax, fiduciary, and investment advice to individuals, families, privately held businesses, family offices, and not-for-profit organizations. The institution positions itself as a client-centric provider of customized, high-quality banking and advisory solutions aimed at helping clients build and preserve their legacies.
Average Trading Volume: 131,313
Technical Sentiment Signal: Buy
Current Market Cap: $607.6M
For a thorough assessment of PGC stock, go to TipRanks’ Stock Analysis page.