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

Peapack-Gladstone Financial Co. (NASDAQ:PGC) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Investors of record on Thursday, November 7th will be paid 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 0.63%. The ex-dividend date is Thursday, November 7th.

Peapack-Gladstone Financial has a payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Peapack-Gladstone Financial to earn $2.60 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 7.7%.

Peapack-Gladstone Financial Trading Down 0.7 %

NASDAQ:PGC opened at $32.00 on Tuesday. The stock has a market cap of $565.76 million, a price-to-earnings ratio of 17.68 and a beta of 0.96. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average price is $28.44 and its 200-day moving average price is $25.45. Peapack-Gladstone Financial has a 52 week low of $20.30 and a 52 week high of $34.10.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $102.14 million during the quarter, compared to analyst estimates of $58.24 million. Peapack-Gladstone Financial had a return on equity of 5.60% and a net margin of 8.12%. On average, equities research analysts forecast that Peapack-Gladstone Financial will post 1.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on PGC shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $32.00 target price (up previously from $28.00) on shares of Peapack-Gladstone Financial in a research note on Monday, July 29th. Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $35.00 in a report on Wednesday, October 23rd.

Insider Transactions at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial 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 completion of the sale, the executive vice president now directly owns 52,155 shares in the company, valued at $1,402,447.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.18% of the company’s stock.

Peapack-Gladstone Financial Company Profile

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.