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

Peapack-Gladstone Financial Co. (NASDAQ:PGC) declared a quarterly dividend on Thursday, March 28th, Wall Street Journal reports. Stockholders of record on Thursday, May 9th will be given 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. 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

PGC stock opened at $23.31 on Monday. The firm has a market cap of $413.75 million, a PE ratio of 10.69 and a beta of 0.99. Peapack-Gladstone Financial has a 1-year low of $21.58 and a 1-year high of $31.49. The stock has a 50-day moving average price of $23.59 and a 200-day moving average price of $25.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

Wall Street Analysts Forecast Growth

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

Peapack-Gladstone Financial Company Profile

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.