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

Peapack-Gladstone Financial Co. (NASDAQ:PGC) announced a quarterly dividend on Thursday, March 28th, Wall Street Journal reports. Stockholders 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 of this dividend is Wednesday, May 8th.

Peapack-Gladstone Financial has a payout ratio of 7.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.5 %

Peapack-Gladstone Financial stock opened at $23.31 on Monday. The stock has a 50-day simple moving average of $23.59 and a 200-day simple moving average of $25.43. The company has a market capitalization of $413.75 million, a P/E ratio of 10.69 and a beta of 0.99. 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 fifty-two week low of $21.58 and a fifty-two week high of $31.49.

Analyst Upgrades and Downgrades

PGC has been the topic of several recent research reports. Piper Sandler cut Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods cut their target price on Peapack-Gladstone Financial from $30.50 to $29.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, TheStreet cut Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a research report on Friday, February 23rd.

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.