Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report) announced a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Stockholders of record on Thursday, February 6th will be paid a dividend of 0.05 per share by the financial services provider on Friday, February 21st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, February 6th.
Peapack-Gladstone Financial has a payout ratio of 5.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Peapack-Gladstone Financial to earn $4.04 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 5.0%.
Peapack-Gladstone Financial Stock Performance
Shares of PGC traded down $0.09 during mid-day trading on Monday, hitting $31.56. The stock had a trading volume of 68,840 shares, compared to its average volume of 80,788. Peapack-Gladstone Financial has a fifty-two week low of $20.30 and a fifty-two week high of $37.88. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The company has a market cap of $554.98 million, a PE ratio of 17.06 and a beta of 1.00. The company's fifty day simple moving average is $33.31 and its two-hundred day simple moving average is $30.59.
Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. On average, equities analysts expect that Peapack-Gladstone Financial will post 2.71 earnings per share for the current year.
Insiders Place Their Bets
In related news, EVP Gregory Martin Smith sold 17,633 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $31.95, for a total transaction of $563,374.35. Following the completion of the sale, the executive vice president now directly owns 297 shares of the company's stock, valued at approximately $9,489.15. This trade represents a 98.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 7.63% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on PGC. Piper Sandler upgraded shares of Peapack-Gladstone Financial from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $30.00 to $35.00 in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods raised their price target on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th.
Read Our Latest Research Report on Peapack-Gladstone Financial
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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