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

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Peapack-Gladstone Financial Co. (NASDAQ:PGC) declared a quarterly dividend on Thursday, October 24th, 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 annualized dividend and a yield of 0.67%. The ex-dividend date is Wednesday, November 6th.

PGC stock opened at $29.68 on Monday. The stock’s fifty day simple moving average is $28.23 and its two-hundred day simple moving average is $27.94. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. Peapack-Gladstone Financial has a 1-year low of $23.96 and a 1-year high of $30.60. The stock has a market cap of $568.12 million, a P/E ratio of 12.85, a P/E/G ratio of 2.14 and a beta of 0.98.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Peapack-Gladstone Financial had a return on equity of 9.54% and a net margin of 20.12%. The business had revenue of $44.50 million during the quarter, compared to analysts’ expectations of $44.07 million. As a group, analysts forecast that Peapack-Gladstone Financial will post 2.39 earnings per share for the current fiscal year.

In other news, EVP Vincent A. Spero sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $26.32, for a total transaction of $78,960.00. Following the transaction, the executive vice president now owns 37,029 shares of the company’s stock, valued at approximately $974,603.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric H. Waser sold 1,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $28.47, for a total value of $42,705.00. Following the transaction, the executive vice president now directly owns 16,941 shares in the company, valued at approximately $482,310.27. The disclosure for this sale can be found here. Insiders have sold a total of 17,500 shares of company stock worth $486,555 in the last ninety days. Insiders own 4.13% of the company’s stock.

PGC has been the topic of several research analyst reports. ValuEngine cut Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub raised Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Peapack-Gladstone Financial presently has an average rating of “Hold” and a consensus price target of $37.00.

About Peapack-Gladstone Financial

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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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Dividend History for Peapack-Gladstone Financial (NASDAQ:PGC)

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