Peapack-Gladstone Financial Co. (NASDAQ:PGC) Announces $0.05 Quarterly Dividend

by · The Markets Daily

Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Free Report) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Shareholders of record on Thursday, November 7th will be given a dividend of 0.05 per share by the financial services provider on Friday, November 22nd. This represents a $0.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, November 7th.

Peapack-Gladstone Financial has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Peapack-Gladstone Financial to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 9.2%.

Peapack-Gladstone Financial Price Performance

PGC opened at $31.20 on Thursday. The business’s 50-day moving average is $27.55 and its two-hundred day moving average is $24.93. Peapack-Gladstone Financial has a 1 year low of $20.30 and a 1 year high of $31.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $551.62 million, a PE ratio of 16.68 and a beta of 0.99.

Peapack-Gladstone Financial (NASDAQ:PGC – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Peapack-Gladstone Financial had a return on equity of 5.91% and a net margin of 8.50%. The company had revenue of $102.14 million for the quarter, compared to analyst estimates of $58.24 million. Research analysts anticipate that Peapack-Gladstone Financial will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PGC. Keefe, Bruyette & Woods restated an “outperform” rating and set a $32.00 price target (up previously from $28.00) on shares of Peapack-Gladstone Financial in a research note on Monday, July 29th. Piper Sandler upgraded Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $30.00 to $35.00 in a research note on Wednesday.

View Our Latest Analysis on PGC

Insider Transactions at Peapack-Gladstone Financial

In other news, EVP John P. Babcock sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $26.89, for a total transaction of $268,900.00. Following the sale, the executive vice president now owns 52,155 shares in the company, valued at approximately $1,402,447.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.63% of the company’s stock.

Peapack-Gladstone Financial Company Profile

(Get Free Report)

Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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