Peapack-Gladstone Financial Co. (PGC) To Go Ex-Dividend on February 6th

Peapack-Gladstone Financial Co. (NASDAQ:PGC) announced a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Investors of record on Thursday, February 6th will be given a dividend of 0.05 per share by the financial services provider on Friday, February 21st. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, February 6th.

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 Stock Down 0.3 %

PGC opened at $31.56 on Tuesday. Peapack-Gladstone Financial has a twelve month low of $20.30 and a twelve month high of $37.88. The company has a 50-day moving average price of $33.31 and a 200 day moving average price of $30.59. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The company has a market cap of $554.82 million, a PE ratio of 17.06 and a beta of 0.99.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. 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 firms have commented on PGC. Piper Sandler upgraded Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $30.00 to $35.00 in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling at Peapack-Gladstone Financial

In related news, EVP Gregory Martin Smith sold 17,633 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $31.95, for a total value of $563,374.35. Following the completion of the transaction, the executive vice president now directly owns 297 shares of the company’s stock, valued at $9,489.15. This represents a 98.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 7.18% of the company’s stock.

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.