Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Shareholders to Get $0.05 Quarterly Dividend

Key Points

• Peapack-Gladstone Financial declared a quarterly dividend of $0.05 per share, payable November 27 to shareholders of record on November 12. The annualized dividend is $0.20, yielding approximately 0.4%.
• The dividend appears well covered, with a current payout ratio of 5.2%; analysts expect next year’s earnings to support an estimated payout ratio of 4.2%.
• The company reported quarterly EPS of $0.99, exceeding analysts’ $0.92 estimate, although revenue of $88.5 million fell short of the $90.13 million consensus forecast.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.05 per share by the financial services provider on Friday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, November 12th.

Peapack-Gladstone Financial has a payout ratio of 5.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Peapack-Gladstone Financial to earn $4.79 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 4.2%.

Peapack-Gladstone Financial Trading Down 0.6%

PGC opened at $45.91 on Friday. The company has a market cap of $813.98 million, a PE ratio of 13.86 and a beta of 0.72. Peapack-Gladstone Financial has a 12 month low of $24.71 and a 12 month high of $49.14. The company has a 50 day moving average of $44.78 and a 200 day moving average of $41.06.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its earnings results on Tuesday, October 27th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.07. Peapack-Gladstone Financial had a net margin of 12.69% and a return on equity of 9.12%. The business had revenue of $88.50 million during the quarter, compared to analyst estimates of $90.13 million. Research analysts forecast that Peapack-Gladstone Financial will post 3.58 earnings per share for the current fiscal year.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation is the holding company for Peapack-Gladstone Bank, a full-service financial institution headquartered in Bedminster, New Jersey. The bank provides commercial, private and personal banking services to businesses, professionals, individuals and families.

Its banking activities include commercial and residential lending, deposits, cash-management services, treasury management, online and mobile banking, and other traditional banking products. Through its wealth-management operations, the company also provides investment management, trust and fiduciary services, financial planning and related advisory solutions.

Founded in 1921, Peapack-Gladstone Bank primarily serves clients in New Jersey and the broader New York metropolitan region, with a focus on privately held businesses, commercial real estate borrowers, high-net-worth individuals and nonprofit organizations.

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