The EPS miss on higher share count from the preferred issuance may pressure the stock near-term, but the strong revenue growth and margin expansion support the fundamental turnaround narrative. Monitor the Q3 earnings call for updates on credit quality trends, particularly the multifamily relationship that drove NPA increases, and for any further capital actions.
Price Chart
Executive Summary
Peapack-Gladstone Financial reported Q2 2026 EPS of $0.85, a 2.9% miss vs. the $0.88 consensus, but revenue of $86.1M beat the $85.2M estimate. Net income available to common shareholders rose 89% YoY to $15.8M, driven by 23% revenue growth and 7% expense growth, producing strong operating leverage. However, nonperforming assets increased to $72.2M (0.91% of assets) from $59.3M (0.77% in Q1), and the company issued the remaining $20M of convertible preferred stock, adding dilution.
Key Financial Metrics
Key Facts
- Q2 2026 diluted EPS of $0.85 missed consensus of $0.88 (-2.9% surprise).
- Total revenue of $86.1M beat consensus of $85.2M and grew 23% YoY.
- Net income available to common shareholders was $15.8M, up 89% YoY and 11% QoQ.
- Net interest margin expanded to 3.32% from 3.26% in Q1 and 2.77% in Q2 2025.
- Nonperforming assets rose to $72.2M (0.91% of total assets) from $59.3M (0.77%) in Q1.
- The company issued the remaining $20M of 6% non-cumulative perpetual convertible preferred stock on July 24, 2026.
- Total loans grew 15% YoY to $6.7B; deposits grew 11% YoY to $7.1B.
- GAAP efficiency ratio improved to 64.69% from 67.21% in Q1.
Financial Impact
EPS miss of ~$0.03 vs consensus, but revenue beat of ~$0.9M; NPA increase of ~$13M QoQ; $20M preferred issuance adds dilution.
Risk Factors
- Rising nonperforming assets (up 22% QoQ) could pressure credit costs and reserves.
- Dilution from the $20M preferred issuance will weigh on EPS growth.
- The EPS miss vs consensus may disappoint momentum-driven investors.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-318213 |
| Document: pgc-20260727.htm | 0001193125-26-318213 |
| Document: pgc-ex99_2.htm | 0001193125-26-318213 |
| Document: 0001193125-26-318213-index-headers.html | 0001193125-26-318213 |
| Document: 0001193125-26-318213-index.html | 0001193125-26-318213 |
| Document: 0001193125-26-318213.txt | 0001193125-26-318213 |
| 8-K Data (Synthetic) | 0001193125-26-318213 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $45.19 | awaiting T+60 | — | $45.78 (+1.31%) |
Oct 19, 2026 7d ago | Press Release | $42.82 | awaiting T+60 | — | $45.78 (+6.91%) |
Oct 15, 2026 11d ago | Press Release | $43.38 | awaiting T+60 | — | $45.78 (+5.53%) |
Oct 13, 2026 13d ago | Press Release | $43.28 | awaiting T+60 | — | $45.78 (−5.78%) |
Oct 5, 2026 21d ago | Press Release | $44.34 | awaiting T+60 | — | $45.78 (+3.25%) |
Sep 22, 2026 4w ago | Press Release | $44.68 | awaiting T+60 | — | $45.78 (+2.46%) |
Sep 9, 2026 6w ago | Press Release | $45.62 | awaiting T+60 | — | $45.78 (+0.35%) |
Sep 1, 2026 7w ago | Press Release | $44.59 | awaiting T+60 | — | $45.78 (+2.67%) |
Jul 30, 2026 12w ago | Press Release | $46.02 $45.43 | ▼ −1.28% | ▼ −3.75% | $45.78 (−0.52%) |
Jul 27, 2026 13w ago | 8-K | $47.72 $43.95 | ▼ −7.90% | ▼ −12.25% | $45.78 (−4.07%) |
US Market Status
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