Peapack-Gladstone Financial Co. (PGC) to Issue Quarterly Dividend of $0.05 on August 22nd

Peapack-Gladstone Financial Co. (NASDAQ:PGC) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Shareholders of record on Thursday, August 8th will be given a dividend of 0.05 per share by the financial services provider on Thursday, August 22nd. This represents a $0.20 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, August 8th.

Peapack-Gladstone Financial has a payout ratio of 9.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Peapack-Gladstone Financial to earn $1.93 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 10.4%.

Peapack-Gladstone Financial Stock Performance

NASDAQ PGC opened at $27.18 on Thursday. The company’s fifty day moving average is $22.72 and its two-hundred day moving average is $23.96. The firm has a market capitalization of $482.99 million, a price-to-earnings ratio of 12.47 and a beta of 0.99. Peapack-Gladstone Financial has a 52-week low of $20.30 and a 52-week high of $31.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.99 and a quick ratio of 0.99.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $100.79 million during the quarter, compared to the consensus estimate of $56.80 million. Peapack-Gladstone Financial had a net margin of 8.50% and a return on equity of 5.94%. Equities research analysts forecast that Peapack-Gladstone Financial will post 1.74 EPS for the current year.

Insider Activity at Peapack-Gladstone Financial

In related news, EVP Stuart M. Vorcheimer sold 4,608 shares of Peapack-Gladstone Financial stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $24.09, for a total transaction of $111,006.72. Following the completion of the transaction, the executive vice president now directly owns 2,205 shares of the company’s stock, valued at approximately $53,118.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.63% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on PGC shares. Piper Sandler downgraded shares of Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods reduced their price objective on shares of Peapack-Gladstone Financial from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th.

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.