Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Announces Quarterly Dividend of $0.05

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) declared a quarterly dividend on Thursday, December 18th. Investors of record on Thursday, February 12th will be paid a dividend of 0.05 per share by the financial services provider on Thursday, February 26th. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, February 12th.

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 Price Performance

Shares of NASDAQ PGC opened at $35.50 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Peapack-Gladstone Financial has a fifty-two week low of $23.96 and a fifty-two week high of $35.68. The business has a 50 day moving average price of $29.58 and a two-hundred day moving average price of $27.98. The firm has a market cap of $623.38 million, a PE ratio of 18.30 and a beta of 0.73.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Tuesday, February 10th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Peapack-Gladstone Financial had a return on equity of 5.51% and a net margin of 7.91%.The company had revenue of $77.67 million for the quarter, compared to analyst estimates of $73.69 million. Sell-side analysts expect that Peapack-Gladstone Financial will post 2.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on PGC shares. Zacks Research upgraded shares of Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods upped their target price on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research note on Thursday, January 22nd. Finally, Piper Sandler boosted their price objective on Peapack-Gladstone Financial from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.