Peapack-Gladstone Financial Co. (PGC) to Issue Quarterly Dividend of $0.05 on May 23rd

Posted by Logan Wallace on May 6th, 2024

Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Free Report) declared a quarterly dividend on Thursday, March 28th, Wall Street Journal reports. Shareholders of record on Thursday, May 9th will be given a dividend of 0.05 per share by the financial services provider on Thursday, May 23rd. This represents a $0.20 annualized dividend and a yield of 0.86%. The ex-dividend date is Wednesday, May 8th.

Peapack-Gladstone Financial has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Peapack-Gladstone Financial to earn $2.49 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 8.0%.

Peapack-Gladstone Financial Stock Up 1.5 %

Shares of NASDAQ:PGC opened at $23.31 on Monday. Peapack-Gladstone Financial has a 52 week low of $21.58 and a 52 week high of $31.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $413.75 million, a PE ratio of 10.69 and a beta of 0.99. The firm has a 50 day simple moving average of $23.59 and a 200 day simple moving average of $25.43.

Wall Street Analyst Weigh In

A number of analysts have commented on PGC shares. TheStreet lowered shares of Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a report on Friday, February 23rd. Piper Sandler cut shares of Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods reduced their price target on Peapack-Gladstone Financial from $30.50 to $29.00 and set an “outperform” rating for the company in a report on Thursday.

View Our Latest Stock Analysis on Peapack-Gladstone Financial

About Peapack-Gladstone Financial

(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.