Peapack-Gladstone Financial Corporation (PGC) To Go Ex-Dividend on November 12th

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) declared a quarterly dividend on Thursday, October 29th. Investors 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 of this dividend is Thursday, November 12th.

Peapack-Gladstone Financial has a payout ratio of 5.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Peapack-Gladstone Financial to earn $4.74 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 Stock Performance

NASDAQ:PGC opened at $46.53 on Tuesday. Peapack-Gladstone Financial has a fifty-two week low of $24.75 and a fifty-two week high of $49.14. The company has a 50 day moving average price of $44.93 and a 200 day moving average price of $41.67. The stock has a market capitalization of $824.98 million, a P/E ratio of 14.22 and a beta of 0.74.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Tuesday, October 27th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. Peapack-Gladstone Financial had a return on equity of 9.12% and a net margin of 12.69%. The company had revenue of $88.50 million for the quarter, compared to analyst estimates of $90.13 million. Research analysts forecast that Peapack-Gladstone Financial will post 3.62 earnings per share for the current fiscal year.

Insider Transactions at Peapack-Gladstone Financial

In related news, EVP Maureen Hemhauser sold 2,297 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $45.32, for a total value of $104,100.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory Smith sold 1,250 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $44.66, for a total transaction of $55,825.00. Following the completion of the transaction, the executive vice president owned 12,622 shares of the company’s stock, valued at $563,698.52. This represents a 9.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peapack-Gladstone Financial

A number of institutional investors and hedge funds have recently modified their holdings of PGC. BlackRock Inc. acquired a new position in shares of Peapack-Gladstone Financial during the 2nd quarter worth about $75,599,000. Dimensional Fund Advisors LP increased its stake in Peapack-Gladstone Financial by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,035,091 shares of the financial services provider’s stock valued at $36,445,000 after purchasing an additional 14,582 shares during the period. Wellington Management Group LLP increased its position in Peapack-Gladstone Financial by 6.1% in the 2nd quarter. Wellington Management Group LLP now owns 674,880 shares of the financial services provider’s stock valued at $31,942,000 after acquiring an additional 38,797 shares during the period. Algert Global LLC raised its stake in shares of Peapack-Gladstone Financial by 8.2% during the second quarter. Algert Global LLC now owns 356,295 shares of the financial services provider’s stock worth $16,863,000 after purchasing an additional 26,880 shares during the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new position in Peapack-Gladstone Financial during the 2nd quarter worth $13,778,000. Institutional investors and hedge funds own 72.75% of the company’s stock.

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.