Peapack-Gladstone Financial Co. (NASDAQ:PGC) to Issue Quarterly Dividend of $0.05

Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report) announced 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 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Thursday, November 7th.

Peapack-Gladstone Financial has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 1.8 %

Shares of NASDAQ PGC traded up $0.55 during midday trading on Thursday, hitting $31.75. 81,165 shares of the company's stock were exchanged, compared to its average volume of 93,581. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. Peapack-Gladstone Financial has a twelve month low of $20.30 and a twelve month high of $32.22. The company has a market cap of $561.34 million, a PE ratio of 16.98 and a beta of 0.99. The firm's fifty day simple moving average is $27.55 and its 200-day simple moving average is $24.93.

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

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 10,000 shares of the firm's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $26.89, for a total transaction of $268,900.00. Following the completion of the transaction, the executive vice president now directly owns 52,155 shares in the company, valued at approximately $1,402,447.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.63% of the company's stock.

Analyst Ratings Changes

PGC has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $32.00 target price (up from $28.00) on shares of Peapack-Gladstone Financial in a research note on Monday, July 29th. Piper Sandler raised Peapack-Gladstone Financial from a "neutral" rating to an "overweight" rating and raised their target price for the company from $30.00 to $35.00 in a report on Wednesday.

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.