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

Posted by Steve Reilly on May 6th, 2024

Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Free Report) announced a quarterly dividend on Thursday, March 28th, Wall Street Journal reports. Investors of record on Thursday, May 9th will be paid 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 dividend yield of 0.86%. The ex-dividend date is Wednesday, May 8th.

Peapack-Gladstone Financial has a dividend payout ratio of 7.3% indicating that 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 Performance

NASDAQ PGC opened at $23.31 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $23.59 and a 200 day simple moving average of $25.43. The company has a market cap of $413.75 million, a P/E ratio of 10.69 and a beta of 0.99. Peapack-Gladstone Financial has a 12-month low of $21.58 and a 12-month high of $31.49.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report 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.