Piper Sandler analyst Manuel Navas has maintained an Overweight rating on Peapack Gladstone Finl and increased the stock's price target to $54 from $50. The adjustment reflects a revised outlook on the company's valuation potential.

Rating and Price Action

The brokerage firm continues to advocate a bullish stance on Peapack Gladstone Finl, listed on NASDAQ under the ticker PGC. The new price target of $54 represents an increase over the previous target of $50.

Peapack-Gladstone Financial Corporation and Peapack Private Bank & Trust have appointed Michael Mehosky as Senior Managing Director and National Sales Manager of Peapack Capital, the company's equipment finance and leasing subsidiary. Mehosky will lead sales strategy across all new client originations, including Direct, Capital Markets, and Third-Party channels. His primary objective is to drive disciplined growth, portfolio diversification, and profitability, with a target of reaching $2 billion in originations over the next 18 months.

Strategic Role and Responsibilities

In his new role, Mehosky serves as a key member of the Peapack Capital leadership team. He is responsible for overseeing sales strategy and execution across various channels. The appointment aims to strengthen the company's national presence and enhance its ability to deliver innovative financing solutions to clients.

Leadership Commentary

Anthony Perettine, Senior Managing Director and President of Peapack Capital, highlighted the significance of the appointment. "Michael's deep industry expertise and proven track record in building high-performing teams make him an outstanding addition to Peapack Capital," said Perettine. "His leadership will be instrumental as we continue to scale our platform, expand our national presence, and deliver innovative financing solutions to our clients."

Professional Background

Mehosky brings extensive industry experience to Peapack Capital. He most recently served as Managing Director of Originations for Gordon Brothers Commercial Equipment Finance. Prior to that, he held several senior roles, including Director and Vice President, Head of Vendor Equipment Finance at Signature Financial; Senior Vice President and Group Manager at Peoples Capital & Leasing; Vice President, Capital Markets and Vendor Industrial Sales Manager at Siemens Financial Services; and Senior Vice President, Capital Markets at GE Capital.

Company Overview

Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.7 billion and assets under management and/or administration of $13.1 billion as of March 31, 2026. Founded in 1921, Peapack Private Bank & Trust offers a client-centric approach to banking, providing wealth management, investment banking, and commercial and personal banking solutions. Peapack Capital specializes in asset finance and equipment leasing solutions for mid- to large-scale transactions.