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Fly News Breaks for January 31, 2020
PGC
Jan 31, 2020 | 07:43 EDT
DA Davidson analyst David Bishop upgraded Peapack-Gladstone to Buy from Neutral with a price target of $33.50, up from $33. The analyst cites the company's progress in its loan portfolio mix adjustment toward a "more commercial bias", remaining on track with its C&I loans to represent 40% of the total by year-end. Bishop adds that the "steady" fee income from Peapack's wealth management platform is helping offset its waning net interest margins.