Peapack-Gladstone Financial Co. (PGC) To Go Ex-Dividend on November 7th

Peapack-Gladstone Financial Co. (NASDAQ:PGC) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Investors 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 0.63%. The ex-dividend date is Thursday, November 7th.

Peapack-Gladstone Financial has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Peapack-Gladstone Financial to earn $2.60 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 7.7%.

Peapack-Gladstone Financial Price Performance

Peapack-Gladstone Financial stock opened at $32.00 on Tuesday. The stock has a fifty day moving average of $28.44 and a 200-day moving average of $25.45. The stock has a market capitalization of $565.76 million, a P/E ratio of 17.68 and a beta of 0.96. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. Peapack-Gladstone Financial has a 52 week low of $20.30 and a 52 week high of $34.10.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $102.14 million during the quarter, compared to the consensus estimate of $58.24 million. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.60%. On average, sell-side analysts expect that Peapack-Gladstone Financial will post 1.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PGC has been the topic of a number of research reports. Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $35.00 in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $32.00 price objective (up from $28.00) on shares of Peapack-Gladstone Financial in a research note on Monday, July 29th.

Insider Activity at Peapack-Gladstone Financial

In related news, EVP John P. Babcock sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $26.89, for a total value of $268,900.00. Following the transaction, the executive vice president now owns 52,155 shares of the company’s stock, valued at approximately $1,402,447.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.18% of the stock is currently owned by insiders.

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