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

Key Points

• $0.05 quarterly dividend announced (annualized $0.20) for shareholders of record May 7, payable May 21, implying a ~0.5% yield and a very low payout ratio (5.2%), with analysts forecasting $4.63 EPS next year that would keep the dividend well covered.
• Quarterly results topped expectations: the firm reported $0.80 EPS vs. $0.66 expected and revenue of $82.49 million versus $79.17 million, with a net margin of 9.6% and ROE of 6.82%.
• Shares trade around $41.60 with a market cap of about $731 million and a P/E of 16.77 (52‑week range $24.42–$42.98); insiders recently sold a small stake (5,272 shares) while institutional investors own roughly 72.8% of the stock.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Get Free Report) announced a quarterly dividend on Thursday, March 26th. Investors of record on Thursday, May 7th will be given a dividend of 0.05 per share by the financial services provider on Thursday, May 21st. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, May 7th.

Peapack-Gladstone Financial has a dividend payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Peapack-Gladstone Financial to earn $4.63 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 4.3%.

Peapack-Gladstone Financial Stock Down 2.0%

Shares of NASDAQ PGC opened at $41.60 on Tuesday. The company has a market capitalization of $730.91 million, a P/E ratio of 16.77 and a beta of 0.72. Peapack-Gladstone Financial has a 52-week low of $24.42 and a 52-week high of $42.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. The company's 50 day moving average price is $36.21 and its 200-day moving average price is $31.37.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.14. The firm had revenue of $82.49 million for the quarter, compared to the consensus estimate of $79.17 million. Peapack-Gladstone Financial had a net margin of 9.60% and a return on equity of 6.82%. Equities analysts forecast that Peapack-Gladstone Financial will post 3.66 earnings per share for the current year.

Insider Buying and Selling at Peapack-Gladstone Financial

In other news, EVP Maureen Hemhauser sold 5,272 shares of Peapack-Gladstone Financial stock in a transaction on Monday, February 9th. The shares were sold at an average price of $35.59, for a total value of $187,630.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.75% of the stock is owned by corporate insiders.

Institutional Trading of Peapack-Gladstone Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Peapack-Gladstone Financial by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider's stock valued at $282,000 after purchasing an additional 390 shares in the last quarter. Azora Capital LP increased its stake in Peapack-Gladstone Financial by 4.1% during the 4th quarter. Azora Capital LP now owns 11,058 shares of the financial services provider's stock valued at $308,000 after purchasing an additional 431 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Peapack-Gladstone Financial by 0.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 65,766 shares of the financial services provider's stock valued at $1,832,000 after purchasing an additional 500 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Peapack-Gladstone Financial by 3.3% during the 3rd quarter. Rafferty Asset Management LLC now owns 16,405 shares of the financial services provider's stock valued at $453,000 after purchasing an additional 526 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Peapack-Gladstone Financial by 7.2% during the 2nd quarter. First Trust Advisors LP now owns 11,361 shares of the financial services provider's stock valued at $321,000 after purchasing an additional 763 shares in the last quarter. Institutional investors own 72.75% of the company's stock.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.

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