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

Posted by Editorial Team on May 6th, 2024

Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Free Report) declared a quarterly dividend on Thursday, March 28th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a 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. 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 Price Performance

Shares of PGC opened at $23.31 on Monday. Peapack-Gladstone Financial has a fifty-two week low of $21.58 and a fifty-two week high of $31.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $413.75 million, a price-to-earnings ratio of 10.69 and a beta of 0.99. The business’s 50-day moving average is $23.59 and its 200-day moving average is $25.43.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods decreased their price objective on Peapack-Gladstone Financial from $30.50 to $29.00 and set an “outperform” rating on the stock in a report on Thursday. TheStreet lowered shares of Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a research report on Friday, February 23rd. Finally, Piper Sandler cut Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a report on Wednesday, April 24th.

Read Our Latest Research Report on Peapack-Gladstone Financial

About Peapack-Gladstone Financial

(Get Free Report)

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.