Princeton Bancorp, Inc. to Issue Quarterly Dividend of $0.30 (NASDAQ:BPRN)

Princeton Bancorp, Inc. (NASDAQ:BPRN) declared a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Stockholders of record on Friday, August 9th will be paid a dividend of 0.30 per share on Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, August 9th.

Princeton Bancorp has raised its dividend by an average of 44.2% annually over the last three years. Princeton Bancorp has a payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Princeton Bancorp to earn $3.23 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 37.2%.

Princeton Bancorp Price Performance

Princeton Bancorp stock opened at $35.50 on Thursday. Princeton Bancorp has a 1-year low of $28.07 and a 1-year high of $39.21. The company has a market cap of $224.32 million, a PE ratio of 9.44 and a beta of 0.59. The stock’s 50 day moving average price is $33.43 and its 200 day moving average price is $31.78.

Princeton Bancorp (NASDAQ:BPRN) last posted its earnings results on Thursday, July 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. The business had revenue of $31.50 million for the quarter, compared to analysts’ expectations of $17.77 million. On average, equities research analysts anticipate that Princeton Bancorp will post 2.89 EPS for the current fiscal year.

Insider Activity

In other Princeton Bancorp news, insider Stephanie Adkins sold 947 shares of Princeton Bancorp stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $30.25, for a total value of $28,646.75. Following the completion of the sale, the insider now directly owns 9,737 shares of the company’s stock, valued at approximately $294,544.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Stephanie Adkins sold 947 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $30.25, for a total value of $28,646.75. Following the sale, the insider now directly owns 9,737 shares of the company’s stock, valued at $294,544.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Tuchman bought 1,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $30.55 per share, with a total value of $30,550.00. Following the completion of the acquisition, the director now owns 95,111 shares of the company’s stock, valued at approximately $2,905,641.05. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 5,306 shares of company stock worth $161,236 and have sold 2,212 shares worth $74,610. Company insiders own 23.00% of the company’s stock.

Princeton Bancorp Company Profile

Princeton Bancorp, Inc operates as the bank holding company for The Bank of Princeton that provides various banking products and services. It accepts various deposit products, including checking, savings, attorney trust, and money market accounts, as well as certificates of deposit. The company also offers traditional retail banking services, one-to-four-family residential mortgage loans, multi-family and commercial mortgage loans, construction loans, and commercial business loans, as well as consumer loans, including home equity loans and lines of credit.