Peapack Gladstone Finl Stock (NASDAQ: PGC)

Peapack Gladstone Finl (NASDAQ:PGC) Stock, Quote.Headers.trade-ideas

Peapack Gladstone Finl

Peapack Gladstone Financial Corp provides banking services. It operates through two segments namely Banking, which involves the delivery of loans and deposits, and Peapack Private Division which includes asset management services. The banking segment includes commercial real estate, multifamily, residential and consumer lending, deposit generation, and internet banking services. Peapack Private includes asset management services for individuals and institutions; personal trust services, administrator, custodian and guardians, and other financial planning and advisory services.

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US regional banks gain as investors rotate from large-cap to small-cap stocks, with the SPDR S&amp;P Regional Banking ETF rallying 4.5% on Tuesday.

Regional Bank Gains Hit Levels Unseen Since Silicon Valley Bank&#39;s Failure As Investor Sentiment Shifts To Small-Cap Names

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Commercial real estate (&#34;CRE&#34;) continues to be an area of concern amid the high-interest-rate environment.

6 Regional Banks&#39; Ratings on Review for Downgrade by Moody&#39;s

Earnings

HBT Financial (NASDAQ: HBT) came out with quarterly earnings of $0.57 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.

HBT Financial Matches Q1 Earnings Estimates

Peapack-Gladstone Financial Corporation - Common Stock

Peapack Gladstone Financial Corp

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Keefe, Bruyette &amp; Woods analyst Christopher O'Connell reiterates Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) with a Outperform and raises the price target from $28 to $32.

Price Target

Reiteration

Keefe, Bruyette & Woods Reiterates Outperform on Peapack Gladstone Finl, Raises Price Target to $32

Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) reported quarterly earnings of $0.42 per share which beat the analyst consensus estimate of $0.35 by 20 percent. This is a 42.47 percent decrease over earnings of $0.73 per share from the same period last year. The company reported quarterly sales of $56.60 million which beat the analyst consensus estimate of $54.36 million by 4.12 percent. This is a 1.56 percent decrease over sales of $57.50 million the same period last year.

Earnings Beats

Peapack Gladstone Finl Q2 EPS $0.42 Beats $0.35 Estimate, Sales $56.60M Beat $54.36M Estimate

U.S. regional banks are experiencing sessions of significant gains, as growing expectations for interest rate cuts fueled an investor rotation from large-cap<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39797464/small-caps-are-having-a-moment-russell-2000-notches-best-5-day-rally-in-over-4-year"> to small-cap stocks.</a>
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) — a widely followed gauge for the industry — rallied as much as 4.5% on Tuesday, marking the strongest session since December 2023.
Notably, the recent five-day rally of nearly 15% was the strongest for regional banks since November 2020.
With Tuesday&#8217;s move, regional banks have effectively recouped all losses suffered after March 9, 2023, characterized by the failure of Silicon Valley Bank and Signature Bank.
&#8220;Lending conditions for commercial and industrial loans have eased substantially since last year's regional bank crisis. The net percentage of lenders reporting tightening lending standards has declined from the peak of 50% at the end of 2023 to 20% today for both small and large firms,&#8221; Goldman Sachs wrote in a recent note on regional banks.
<h1 class="wp-block-heading">Chart: Regional Banks Rebound To Pre-Silicon Valley Bank Collapse Levels</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="524" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-1024x524.png" alt="" class="wp-image-439490" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-1024x524.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-768x393.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-1536x786.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Image: <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">Benzinga pro</a>
<h1 class="wp-block-heading">Tuesday&#8217;s Top Performers Within Regional Banks</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td> 1-Day %</td>
</tr>
<tr>
<td>ServisFirst Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>)</td>
<td>12.53%</td>
</tr>
<tr>
<td>Mercantile Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NYSE">MBWM</a>)</td>
<td>12.06%</td>
</tr>
<tr>
<td>First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>)</td>
<td>10.35%</td>
</tr>
<tr>
<td>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>)</td>
<td>10.00%</td>
</tr>
<tr>
<td>CrossFirst Bankshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFB#NASDAQ">CFB</a>)</td>
<td>9.66%</td>
</tr>
<tr>
<td>FB Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBK#NYSE">FBK</a>)</td>
<td>8.04%</td>
</tr>
<tr>
<td>Peapack-Gladstone Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>)</td>
<td>7.88%</td>
</tr>
</tbody>
</table>
</figure>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39780995/rate-sensitive-cyclical-stocks-poised-for-rally-as-fed-prepares-to-cut-rates-were-o">Rate-Sensitive Cyclical Stocks Poised For Rally As Fed Prepares To Cut Rates: &#8216;We&#8217;re On The Path To Goldilocks,&#8217; Says Bank Of America</a></li>
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Interested in learning more about small-cap stocks? Sign up for the Benzinga Small Cap Conference in Chicago on Oct. 10. <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/">Click here</a> for information. 
Photo: Shutterstock

Regional Bank Gains Hit Levels Unseen Since Silicon Valley Bank's Failure As Investor Sentiment Shifts To Small-Cap Names

Offerings

Peapack-Gladstone Financial Corp Files For Mixed Shelf Offering Of Up To $150M

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) with a Outperform and lowers the price target from $29 to $28.

Keefe, Bruyette & Woods Maintains Outperform on Peapack Gladstone Finl, Lowers Price Target to $28

Commercial real estate (&quot;CRE&quot;) continues to be an area of concern amid the high-interest-rate environment. Because of their significant exposure to CRE loans, the long-term ratings of at least six regional banks in the United States have been placed under review for downgrade by Moody&#39;s Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mco#NYSE">MCO</a>). 
The banks are Old National Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onb#NASDAQ">ONB</a>), Fulton Financial Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fult#NASDAQ">FULT</a>), F.N.B. Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fnb#NYSE">FNB</a>), WaFd, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wafd#NASDAQ">WAFD</a>), First Merchants Corp.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frme#NASDAQ">FRME</a>) and Peapack-Gladstone Financial Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pgc#NASDAQ">PGC</a>). 
Notably, at the time when interest rates were low in the United States, various regional banks increased their concentrations in CRE, which, by nature, is a volatile asset class. 
Now, amid the higher interest rate environment (the Federal Reserve increased interest rates last year at the fastest pace in decades to contain the stubborn inflation, which slowed down credit demand), banks with a substantial concentration in CRE loans face ongoing credit quality and profitability issues. This is because higher rates have increased the longstanding risks of CRE for banks&#39; creditworthiness, particularly during cycle downturns. 
Moreover, unlike the largest regional banks, the above-mentioned banks are not subject to heightened prudential regulatory standards. Thus, these banks&#39; credit weaknesses are enlarged by lower regulatory requirements in relation to the larger banks. 
Accordingly, since CRE loans have a lower value now amid higher rates, these banks face heightened risks. 
According to Moody&#39;s, bank funding is under pressure now because depositors continue to switch to accounts with higher interest rates, which has been leading to a compression in banks&#39; net interest margins. 
Moody&#39;s said that its review for downgrade will focus on the extent to which the above-mentioned regional banks can maintain sufficient qualitative and quantitative risk mitigants to offset the dangers associated with their CRE loan exposures, especially with respect to their policy toward the amount of capital and liquidity that they retain. 
Particularly for FULT, Moody&#39;s will also consider the impact that the recent acquisition of Republic Bank will have on the bank&#39;s creditworthiness. 
Likewise, for WAFD, Moody&#39;s will consider the impact that the bank&#39;s loan sale (WAFD recently entered an agreement to sell a large pool of multi-family loans that it acquired as part of its acquisition of Luther Burbank) will have on its capital, liquidity and profitability profiles. 
Currently, WAFD, ONB, and FULT carry a Zacks Rank #3 (Hold). FNB carries a Zacks Rank #4 (Sell). 
<a href="https://www.zacks.com/stock/news/2285392/6-regional-banks-ratings-on-review-for-downgrade-by-moody-s?cid=CS-BENZ-FT-analyst_blog|industry_focus-2285392">To read this article on Zacks.com click here.</a>

6 Regional Banks' Ratings on Review for Downgrade by Moody's

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) with a Outperform and lowers the price target from $30.5 to $29.

Keefe, Bruyette & Woods Maintains Outperform on Peapack Gladstone Finl, Lowers Price Target to $29

HBT Financial (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hbt#NASDAQ">HBT</a>) came out with quarterly earnings of $0.57 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this bank holding company would post earnings of $0.60 per share when it actually produced earnings of $0.60, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
HBT Financial, which belongs to the Zacks Banks - Northeast industry, posted revenues of $52.31 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 7.07%. This compares to year-ago revenues of $54.27 million. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
HBT Financial shares have lost about 12.3% since the beginning of the year versus the S&amp;P 500&#39;s gain of 4.1%.
What&#39;s Next for HBT Financial?
While HBT Financial has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for HBT Financial: favorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.55 on $56.71 million in revenues for the coming quarter and $2.24 on $227.51 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the bottom 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Peapack-Gladstone (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pgc#NASDAQ">PGC</a>), is yet to report results for the quarter ended March 2024.
This bank holding company is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of -50.5%. The consensus EPS estimate for the quarter has been revised 1.9% lower over the last 30 days to the current level.
Peapack-Gladstone&#39;s revenues are expected to be $53.69 million, down 13.5% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2258969/hbt-financial-hbt-matches-q1-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2258969">To read this article on Zacks.com click here.</a>

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private, a division of Peapack-Gladstone Bank, boldly continue to move into New York City with the hiring of Andrew F. Corrado and more than 10 teams of commercial and private bankers.&nbsp; Andrew, fresh off his long tenure from Signature Bank and its successor Flagstar Bank, is now the President of the Commercial Bank in New York for Peapack Private.&nbsp; He will lead the Bank's NY expansion and oversee its presence in Manhattan, leveraging the combined experience of more than 50 bankers to ensure the successful growth of the Company.
"We are continuing to move aggressively into New York City due to the market disruption that occurred last spring," said Doug Kennedy, President and Chief Executive Officer of Peapack-Gladstone Bank.&nbsp; "Our expansion last summer has been well-received.&nbsp; The additional investment we are making today by hiring Andrew and multiple teams of commercial and private bankers capitalizes on the momentum we've achieved to date."
Corrado has extensive experience in building relationships and expects to easily align client goals and objectives with Peapack Private's offering of customized and innovative private banking solutions.&nbsp; Collectively, his private banking teams manage several billion in deposits and loans, covering Manhattan and the surrounding areas.
"We were attracted to the single-point-of-contact model that Peapack Private offers, along with the added value of its wealth management solutions," commented Corrado. "This is a win for my service teams, our clients and NY.&nbsp; It just could not get any better."
Andrew brings more than 35 years of experience to Peapack Private, previously serving as Executive Vice President, Head of Commercial and Private Banking – Northeast, and Senior Vice President, Group Director, at Flagstar Bank, formerly Signature Bank, New York, NY.&nbsp; Prior to that as Senior Vice President and Head of Professional Services and Private Banking at Capital One Bank in NY, he developed and executed vision and strategy for commercial bank clients and was responsible for sales and service nationally, managing four regional team leaders.&nbsp; Additional roles at Capital One Bank included that of Market President, Long Island Region; Senior Vice President and Market Manager for Commercial Private Banking; and Divisional Senior Vice President, Regional Branch Administrator, North Fork Bank, formerly Capital One.&nbsp; Corrado held additional notable roles at GreenPoint Savings Bank, JP Morgan Chase &amp; Co., and European American Bank.
Andrew holds a B.S.B.A. in Marketing from Bryant University in Rhode Island and an M.B.A. in Marketing Management from Hofstra University in Hempstead, NY.&nbsp; He is a Board and Finance Committee member of United Cerebral Palsy of Long Island and a Vice Chair and Treasurer of The Maurer Foundation for Breast Health Education.&nbsp; He is a past President of the Hofstra University Alumni Organization and an active member of the Hofstra Zarb School of Business Dean's Advisory Board.
Peapack Private fully expects to continue offering its private banking service model to the Tri-State area and to grow in the coming years.

Peapack-Gladstone Financial Corporation And Peapack Private, Announces New York City Expansion

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) with a Outperform and lowers the price target from $33.5 to $30.5.

Keefe, Bruyette & Woods Maintains Outperform on Peapack Gladstone Finl, Lowers Price Target to $30.5

WIIM

ACRE

APAM

BANC

BCBP

BHRB

BXMT

CATC

CNOB

FFBC

HBAN

HBNC

HLNE

MBCN

METROCITY BANKSHARES INC by MetroCity Bankshares Inc.

MCBS

MOFG

MORN

MSCI

PIPR

PRAA

QCRH

SFNC

SMMF

UBSI

UPST

WASH

Shares of banking and financial services stocks are trading lower as stocks fall following a greater-than-expected increase in January inflation data.

Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) reported quarterly earnings of $0.48 per share which beat the analyst consensus estimate of $0.45 by 6.67 percent.

Peapack Gladstone Finl Q4 2023 GAAP EPS $0.48 Beats $0.45 Estimate

<h3>What is a Value Stock?</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>Benzinga Insights has compiled a list of value stocks in the financial services sector that may be worth watching:</h2>
<ol>
<li>Oak Valley (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OVLY#NASDAQ">OVLY</a>) - P/E: 6.4</li>
<li>Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) - P/E: 8.5</li>
<li>Security National Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNFCA#NASDAQ">SNFCA</a>) - P/E: 5.99</li>
<li>CNFinance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNF#NYSE">CNF</a>) - P/E: 7.13</li>
<li>Intl General Insurance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGIC#NASDAQ">IGIC</a>) - P/E: 6.29</li>
</ol>
Most recently, Oak Valley reported earnings per share at $0.89, whereas in Q2 earnings per share sat at $1.02. The company's most recent dividend yield sits at 1.64%, which has increased by 0.47% from 1.17% last quarter. 
This quarter, Peapack Gladstone Finl experienced a decrease in earnings per share, which was $0.73 in Q2 and is now $0.49. Its most recent dividend yield is at 0.78%, which has increased by 0.1% from 0.68% in the previous quarter.
This quarter, Security National Finl experienced a decrease in earnings per share, which was $0.28 in Q2 and is now $0.18. CNFinance Hldgs saw an increase in earnings per share from 0.08 in Q2 to $0.1 now. This quarter, Intl General Insurance experienced a decrease in earnings per share, which was $0.83 in Q2 and is now $0.79. Most recently, the company reported a dividend yield of 0.33%, which has decreased by 0.05% from last quarter's yield of 0.38%.
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

IGIC

OVLY

SNFCA

Overview Of Value Stocks In The Financial Services Sector

Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) reported quarterly earnings of $0.49 per share. This is a 55.05 percent decrease over earnings of $1.09 per share from the same period last year. The company reported quarterly sales of $55.90 million which beat the analyst consensus estimate of $54.54 million by 2.49 percent. This is a 9.70 percent decrease over sales of $61.91 million the same period last year.

Peapack Gladstone Finl Q3 EPS $0.49 Down From $1.09 YoY, Sales $55.90M Beat $54.54M Estimate

By the end of today, August 24, 2023, Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) is set to deliver a dividend payout of $0.05 per share, equating to an annualized dividend yield of 0.68%. The company's dividend payout went ex-dividend on August 09, 2023, so only the investors that owned the stock prior to the ex-dividend date will receive this payout. 
<h3>Peapack Gladstone Finl Recent Dividend Payouts</h3>
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<thead>
<tr>
<th>Ex-Date</th>
<th align="right">Payments per year</th>
<th>Dividend</th>
<th>Yield</th>
<th>Announced</th>
<th>Record</th>
<th>Payable</th>
</tr>
</thead>
<tbody>
<tr>
<td>2023-08-09</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.68%</td>
<td>2023-07-22</td>
<td>2023-08-10</td>
<td>2023-08-24</td>
</tr>
<tr>
<td>2023-05-05</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.73%</td>
<td>2023-04-24</td>
<td>2023-05-08</td>
<td>2023-05-22</td>
</tr>
<tr>
<td>2023-02-08</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.57%</td>
<td>2023-01-26</td>
<td>2023-02-09</td>
<td>2023-02-23</td>
</tr>
<tr>
<td>2022-11-09</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.53%</td>
<td>2022-10-27</td>
<td>2022-11-10</td>
<td>2022-11-28</td>
</tr>
<tr>
<td>2022-08-10</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.63%</td>
<td>2022-07-29</td>
<td>2022-08-11</td>
<td>2022-08-25</td>
</tr>
<tr>
<td>2022-05-11</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.64%</td>
<td>2022-04-28</td>
<td>2022-05-12</td>
<td>2022-05-26</td>
</tr>
<tr>
<td>2022-02-09</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.56%</td>
<td>2022-01-27</td>
<td>2022-02-10</td>
<td>2022-02-25</td>
</tr>
<tr>
<td>2021-11-09</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.6%</td>
<td>2021-10-27</td>
<td>2021-11-10</td>
<td>2021-11-26</td>
</tr>
<tr>
<td>2021-08-09</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.64%</td>
<td>2021-07-27</td>
<td>2021-08-10</td>
<td>2021-08-24</td>
</tr>
<tr>
<td>2021-05-10</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.64%</td>
<td>2021-04-27</td>
<td>2021-05-11</td>
<td>2021-05-25</td>
</tr>
<tr>
<td>2021-02-10</td>
<td align="right">4</td>
<td>$0.05</td>
<td>0.86%</td>
<td>2021-01-28</td>
<td>2021-02-11</td>
<td>2021-02-26</td>
</tr>
<tr>
<td>2020-11-09</td>
<td align="right">4</td>
<td>$0.05</td>
<td>1.17%</td>
<td>2020-10-27</td>
<td>2020-11-10</td>
<td>2020-11-25</td>
</tr>
</tbody>
</table>
Peapack Gladstone Finl's dividend yield is on the lower end compared to its industry peers, with Washington Trust Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WASH#NASDAQ">WASH</a>) having a higher annualized dividend yield of 8.14%.
<h3>Analyzing Peapack Gladstone Finl Financial Health</h3>
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. 
<h3>YoY Growth in Dividend Per Share</h3>
<img src="https://www.benzinga.com/files/images/story/2023/1692889519_0.png" alt="dividend chart graph" />
As you can see, from 2019 to 2022, investors observed a stable dividend per share of $0.20 throughout this period. This indicates a consistent dividend policy maintained by the company, providing stability to shareholders. Investors can rely on the company's consistent dividend payout to generate a steady income stream.
<h3>YoY Earnings Growth For Peapack Gladstone Finl</h3>
<img src="https://www.benzinga.com/files/images/story/2023/1692889519_1.png" alt="earning chart graph" />
The earnings chart above shows that from 2019 to 2022, Peapack Gladstone Finl has experienced an increase in their earnings from $2.35 per share to $3.66 per share. This positive earnings trend is promising for income-seeking investors as it suggests that the company has more potential to increase its cash dividend payout if the trend continues.
<h3>Recap</h3>
In this article, we delve into Peapack Gladstone Finl's recent dividend payout and examine how it impacts shareholders. The company has announced a dividend distribution of $0.05 per share today, resulting in an annualized dividend yield of 0.68%.
Peapack Gladstone Finl's dividend yield is on the lower end compared to its industry peers, with Washington Trust Bancorp having a higher annualized dividend yield of 8.14%.
Despite no adjustment in the dividend per share over the period of 2019 to 2022, the consistent growth in earnings per share for Peapack Gladstone Finl indicates a sound financial status, which could enable the company to continue sharing profits with its investors.
Keeping a close watch on the company's performance in the coming quarters will enable investors to stay abreast of any modifications in financials or dividend disbursements.
[Click here](<a href="https://www.benzinga.com/stock//dividends" title="https://www.benzinga.com/stock//dividends">https://www.benzinga.com/stock//dividends</a>) to find details on Peapack Gladstone Finl's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Dividends

Stable Payouts, Increasing Performance: Peapack Gladstone Finl Supports Investors with Growing Earnings

Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) reported quarterly earnings of $0.73 per share which missed the analyst consensus estimate of $0.88 by 17.05 percent. This is a 32.41 percent decrease over earnings of $1.08 per share from the same period last year.

Peapack Gladstone Finl Q2 EPS $0.73 Misses $0.88 Estimate

New Jersey holding company, Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC), Peapack-Gladstone Bank and Peapack Private, announce expansion plans with the official filing of an application to open a location in New York City.&nbsp; Peapack Private is actively recruiting from the Tri-State area and beginning to build a presence in Manhattan.&nbsp; &nbsp;

Peapack-Gladstone Financial Corporation Announces Expansion Into New York City

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Shares of banks and financial services companies are trading lower following the recent failure of First Republic, which has cause uncertainty in the sector and has pressured regional banking names.

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Peapack Gladstone Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>) with a Outperform and lowers the price target from $43 to $39.

Keefe, Bruyette & Woods Maintains Outperform on Peapack Gladstone Finl, Lowers Price Target to $39

During the&nbsp;first quarter&nbsp;of 2023, the Company authorized a new&nbsp;5%&nbsp;stock repurchase program of up to 890,000 shares. Purchases will be conducted in accordance with SEC Rule 10b-18.
Mr. Kennedy noted, &quot;We believe that repurchasing shares of our common stock at appropriate times will continue to drive additional shareholder value. While this repurchase plan was approved during the&nbsp;first quarter, we will proceed cautiously with regard to capital management as conditions continue to unfold.&quot;
The following are select highlights for the period ended March 31, 2023:

Buybacks

Reported Earlier, Peapack-Gladstone Financial Announced During Q1 2023, The Co Authorized A New 5% Stock Repurchase Program Of Up To 890,000 Shares

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Fulton, First Merchants, Peapack-Gladstone, F.N.B. ratings may be cut by Moody's

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Peapack-Gladstone Financial (PGC) just unveiled an update. Peapack-Gladstone Financial Corporation has released presentation materials for investor...

Peapack-Gladstone Financial Issues Investor Presentation Notice

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Peapack Gladstone Finl (NASDAQ:<a href="https://investorplace.com/stock-quotes/pgc-stock-quote/">PGC</a>) just reported results for the second quarter of 2024.<ul><li>Peapack Gladstone Finl reported earnings per share of 42 cents. This was above the analyst estimate for EPS of 35 cents.</li><li>The company reported revenue of $56.60 million.</li><li>This was 4.12% better than the analyst estimate for revenue of $54.36 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/pgc-stock-earnings-peapack-gladstone-finl-for-q2-of-2024/">PGC Stock Earnings: Peapack Gladstone Finl Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

PGC Stock Earnings: Peapack Gladstone Finl Beats EPS, Beats Revenue for Q2 2024

KBW Sticks to Its Buy Rating for Peapack-Gladstone Financial (PGC)

Peapack-Gladstone Financial GAAP EPS of $0.91, revenue of $109.68M

KBW Sticks to Their Buy Rating for Peapack-Gladstone Financial (PGC)

Peapack-Gladstone Financial goes ex dividend tomorrow

Esquire Financial Holdings: A Great Run Necessitates A Downgrade

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Management

Press Releases

Peapack Private Hires Ron Bezoza as Senior Managing Director - Managing Principal, Head of Sales and Relationship Management

Peapack Private Investment Banking Advises Super Stud Building Products, Inc. and Affiliates on the Sale to EB Metals, Inc.

Dawn Kasulke Joins Peapack Private as Senior Managing Director, Team Leader

Peapack Private Hires Joanne Gagliardi, Senior Managing Director

Peapack Private Announces New York City Expansion

Peapack-Gladstone Bank Promotes Kate Sant'Angelo to Senior Vice President, Director of Personal Banking

Greg Tamberlane Joins Peapack Private as Senior Vice President, Head of Commercial Bank Operations New York

Peapack-Gladstone Financial Corporation  Reports First Quarter Results

Peapack-Gladstone Financial Corporation Reports Second Quarter Results

Peapack Private Elevates MJ Sully, Esq. to Senior Managing Director, Chief Fiduciary Officer and President of PGB Trust & Investments of Delaware

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