Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Free Report) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors of record on Thursday, November 7th will be given a dividend of 0.05 per share by the financial services provider on Friday, November 22nd. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, November 7th.
Peapack-Gladstone Financial has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Peapack-Gladstone Financial to earn $2.17 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 9.2%.
Peapack-Gladstone Financial Price Performance
NASDAQ PGC opened at $31.20 on Thursday. The firm’s fifty day simple moving average is $27.55 and its two-hundred day simple moving average is $24.93. The firm has a market capitalization of $551.62 million, a P/E ratio of 16.68 and a beta of 0.99. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. Peapack-Gladstone Financial has a 12-month low of $20.30 and a 12-month high of $31.71.
Insider Buying and Selling
In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $26.89, for a total transaction of $268,900.00. Following the sale, the executive vice president now owns 52,155 shares in the company, valued at approximately $1,402,447.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.63% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
PGC has been the topic of a number of research analyst reports. Piper Sandler upgraded Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $30.00 to $35.00 in a research note on Wednesday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $32.00 target price (up previously from $28.00) on shares of Peapack-Gladstone Financial in a research report on Monday, July 29th.
Check Out Our Latest Research Report on Peapack-Gladstone Financial
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.
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