Peapack-Gladstone Financial Corporation (PGC) To Go Ex-Dividend on August 13th

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Thursday, August 13th will be given a dividend of 0.05 per share by the financial services provider on Thursday, August 27th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, August 13th.

Peapack-Gladstone Financial has a dividend payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Equities 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 1.4%

PGC opened at $45.15 on Tuesday. The firm has a market capitalization of $800.06 million, a PE ratio of 15.68 and a beta of 0.71. Peapack-Gladstone Financial has a twelve month low of $24.71 and a twelve month high of $49.14. The firm’s 50-day moving average price is $45.97 and its 200 day moving average price is $40.02.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.03). The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $85.17 million. Peapack-Gladstone Financial had a return on equity of 7.91% and a net margin of 11.09%. As a group, analysts predict that Peapack-Gladstone Financial will post 3.58 earnings per share for the current fiscal year.

Insider Activity at Peapack-Gladstone Financial

In other news, EVP John P. Babcock sold 5,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $47.11, for a total transaction of $235,550.00. Following the sale, the executive vice president owned 45,582 shares of the company’s stock, valued at approximately $2,147,368.02. This represents a 9.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Chalkan sold 1,100 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $47.60, for a total value of $52,360.00. Following the completion of the sale, the executive vice president owned 26,075 shares in the company, valued at approximately $1,241,170. The trade was a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,100 shares of company stock worth $377,170. 5.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Peapack-Gladstone Financial during the 2nd quarter worth $75,599,000. Wellington Management Group LLP increased its holdings in shares of Peapack-Gladstone Financial by 67.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,138,723 shares of the financial services provider’s stock valued at $31,429,000 after acquiring an additional 456,828 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Peapack-Gladstone Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,091 shares of the financial services provider’s stock worth $36,445,000 after acquiring an additional 14,582 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Peapack-Gladstone Financial by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 974,523 shares of the financial services provider’s stock worth $26,897,000 after acquiring an additional 28,489 shares in the last quarter. Finally, State Street Corp lifted its stake in Peapack-Gladstone Financial by 6.2% during the fourth quarter. State Street Corp now owns 549,447 shares of the financial services provider’s stock worth $15,302,000 after purchasing an additional 31,917 shares during the last quarter. Hedge funds and other 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.