Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Plans $0.05 Quarterly Dividend
by Teresa Graham · The Cerbat GemPeapack-Gladstone Financial Corporation (NASDAQ:PGC – Get Free Report) declared a quarterly dividend on Thursday, March 26th. Stockholders of record on Thursday, May 7th will be given a dividend of 0.05 per share by the financial services provider on Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 7th.
Peapack-Gladstone Financial has a dividend payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Peapack-Gladstone Financial to earn $4.63 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 4.3%.
Peapack-Gladstone Financial Stock Performance
PGC opened at $41.60 on Tuesday. Peapack-Gladstone Financial has a 52-week low of $24.42 and a 52-week high of $42.98. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The company has a market cap of $730.91 million, a P/E ratio of 16.77 and a beta of 0.72. The firm’s 50-day moving average price is $36.21 and its 200-day moving average price is $31.37.
Peapack-Gladstone Financial (NASDAQ:PGC – Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.14. Peapack-Gladstone Financial had a net margin of 9.60% and a return on equity of 6.82%. The firm had revenue of $82.49 million for the quarter, compared to the consensus estimate of $79.17 million. As a group, equities analysts anticipate that Peapack-Gladstone Financial will post 3.66 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently commented on PGC. Keefe, Bruyette & Woods upped their target price on Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Piper Sandler upped their target price on Peapack-Gladstone Financial from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Peapack-Gladstone Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.
View Our Latest Stock Analysis on Peapack-Gladstone Financial
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.