10-Q · May 8, 2026
Peapack-Gladstone Financial Corporation reported strong Q1 2026 results, with revenue of $82.5 million and EPS of $0.80, marking significant year-over-year growth. The company's net interest income rose significantly…
Earnings analysis · 10-Q
PGC earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
Second-quarter diluted EPS of $0.85 improved from $0.80 in the prior quarter and $0.45 a year earlier, while revenue of $86.052 million modestly exceeded consensus. The filing does not provide enough information to…
Read full summary
Second-quarter diluted EPS of $0.85 improved from $0.80 in the prior quarter and $0.45 a year earlier, while revenue of $86.052 million modestly exceeded consensus. The filing does not provide enough information to calculate gross margin, operating margin, free cash flow, working-capital changes, or segment performance. Interest-rate exposure is the main filing-specific concern: management describes the balance sheet as modestly liability sensitive in the near term, with modeled NII pressure under rising rates and more pronounced second-year pressure under falling rates. No material changes to the prior 10-K risk factors or quantitative forward guidance were disclosed.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.85
What stood out
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EPS improved sequentially and year over year
Diluted EPS was $0.85, up from $0.80 in the prior quarter and $0.45 in the year-ago quarter, although it was below the $0.87 consensus estimate.
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Revenue modestly beat consensus
Reported revenue was $86.052 million, exceeding the $85.301 million consensus estimate by approximately $0.751 million, or 0.9%.
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Interest-rate risk hedging remains substantial
The company uses interest-rate swaps to manage liability duration; the primary swap program had $280.0 million of notional value outstanding at June 30, 2026.
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Commercial loan swap program expanded risk management
The commercial lending back-to-back swap program had $405.9 million of notional value executed and outstanding with borrowers as of June 30, 2026.
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Share repurchase capacity remains available
The company maintained an authorization to repurchase up to 880,000 shares through December 31, 2026, with 680,000 shares remaining available at June 30, 2026.
What to watch
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Near-term liability sensitivity
Management characterized the company as modestly liability sensitive in the near term: an immediate and sustained 100-basis-point rate increase would reduce first-year net interest income by 1.1%, while a 200-basis-point decrease would reduce second-year net interest income by 8.8%.
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Interest-rate model limitations
The filing states that interest-rate simulation models assume the balance-sheet composition remains constant and apply rate changes uniformly across the yield curve; actual results may differ from the modeled 1.1% first-year NII decline under a 100-basis-point increase.
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No new risk-factor update
The company disclosed no material changes to the risk factors in its December 31, 2025 Form 10-K, so existing credit, liquidity, market and operational risks remain applicable without a new filing-specific update.
Management's outlook
No quantitative forward revenue or EPS guidance, outlook revision, or other numerical outlook was provided in the filing.
Earlier filings 4
10-K · March 11, 2026
Peapack-Gladstone’s 2025 10-K emphasizes a deposit-led, relationship-driven private banking strategy, continued expansion in Metro New York (NYC flagship opened April 2025) and a growing wealth business (AUM $13.1…
10-Q · May 9, 2025
Peapack-Gladstone reported quarter with total revenue (net interest income before provision + other income) of $64,359,000, up $11,283,000 or 21.3% year-over-year, but net income and EPS declined to $7,595,000 and $0.43…
10-K · March 12, 2025
Peapack-Gladstone positions itself as a relationship-focused regional bank with a diversified mix anchored by a wealth management division ($11.9 billion AUM as of 12/31/2024) and targeted expansion into the New York…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.