Peapack Gladstone Financial (NAS:PGC) Financial Strength

: 3 (As of Jun. 2023)

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Peapack Gladstone Financial has the Financial Strength Rank of 3. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.

Warning Sign:

Peapack Gladstone Financial Corp displays poor financial strength. Usually, this is caused by too much debt for the company.

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3. Altman Z-Score.

GuruFocus does not calculate Peapack Gladstone Financial's interest coverage with the available data. Peapack Gladstone Financial's debt to revenue ratio for the quarter that ended in Jun. 2023 was 2.77. Altman Z-Score does not apply to banks and insurance companies.

Peapack Gladstone Financial Financial Strength Calculation

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

Peapack Gladstone Financial's Interest Expense for the months ended in Jun. 2023 was $-35.9 Mil. Its Operating Income for the months ended in Jun. 2023 was $0.0 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2023 was $151.5 Mil.

Peapack Gladstone Financial's Interest Coverage for the quarter that ended in Jun. 2023 is

The higher the ratio, the stronger the company's financial strength is.

2. Debt to revenue ratio. The lower, the better.

Peapack Gladstone Financial's Debt to Revenue Ratio for the quarter that ended in Jun. 2023 is

Debt to Revenue Ratio	=	Total Debt (Q: Jun. 2023 )			/	Revenue
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Revenue
	=	(485.36	+	151.51)	/	229.984
	=	2.77

3. Altman Z-Score.

Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

The zones of discrimination were as such:

When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.

Altman Z-Score does not apply to banks and insurance companies.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Peapack Gladstone Financial (NAS:PGC) Financial Strength Explanation

The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.

Peapack Gladstone Financial has the Financial Strength Rank of 3. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.

Peapack Gladstone Financial Financial Strength Related Terms

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Peapack Gladstone Financial (NAS:PGC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Peapack Gladstone Financial Corp (NAS:PGC) » Definitions » Financial Strength

Comparable Companies

Traded in Other Exchanges

N/A

Address

500 Hills Drive, Suite 300, Bedminster, NJ, USA, 07921

Website

https://www.pgbank.com

Peapack Gladstone Financial Corp provides banking services. It operates through two segments namely Banking, which involves the delivery of loans and deposits, and Peapack Private Division which includes asset management services. The banking segment includes commercial real estate, multifamily, residential and consumer lending, deposit generation, and internet banking services. Peapack Private includes asset management services for individuals and institutions; personal trust services, administrator, custodian and guardian, and other financial planning and advisory services.

Executives

Patrick Campion	director	C/O ANJIE LAROCCA, DEUTSCHE ASSET MGMT, 345 PARK AVENUE, NEW YORK NY 10154
Frank A. Cavallaro	officer: SEVP & Chief Financial Officer	132 YALE AVENUE, SOMERDALE NJ 08083
Stuart M. Vorcheimer	officer: EVP, Comm & Ind Lndg	500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921
Patrick J. Mullen	director	500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921
Peter D. Horst	director	500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921
Timothy E Doyle	officer: EVP, Chief Credit Officer	500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921
Maureen Hemhauser	officer: Chief Risk Officer	500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921
Gregory Martin Smith	officer: EVP, Head of Comml Banking	500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921
Richard Debel	officer: EVP, Deposit Solutions	500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921
Gramigna Edward A Jr	director	C/O PEAPACK GLADSTONE FINANCIAL CORP, 500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921-1538
Beth Welsh	director	C/O PEAPACK GLADSTONE FINANCIAL CORP, 500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921-1538
Anthony W. Spinelli	director	500 HILLS DRIVE, SUITE 300, P.O. BOX 700, BEDMINSTER NJ 07921
Carmen M Bowser	director	1170 PEACHTREE STREET NE, SUITE 600, ATLANTA GA 30309
Robert A. Plante	officer: EVP, Chief Operating Officer	500 HILLS DRIVE, SUITE 300, P.O. BOX 700, BEDMINSTER NJ 07921
Susan A Cole	director	C/O PEAPACK-GLADSTONE FINANCIAL CORP, 500 HILLS DRIVE, SUITE 300, BEDMINSTER NJ 07921