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

Princeton Bancorp, Inc. (NASDAQ:BPRN) announced a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.30 per share on Friday, May 31st. This represents a $1.20 annualized dividend and a yield of 3.99%. The ex-dividend date is Thursday, May 9th.

Princeton Bancorp has increased its dividend by an average of 33.9% per year over the last three years and has raised its dividend every year for the last 3 years. Princeton Bancorp has a payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Princeton Bancorp to earn $3.00 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 40.0%.

Princeton Bancorp Price Performance

Shares of BPRN traded up $0.57 during trading hours on Friday, hitting $30.05. The company’s stock had a trading volume of 7,960 shares, compared to its average volume of 12,083. The company has a market cap of $190.52 million, a price-to-earnings ratio of 7.32 and a beta of 0.58. The business has a 50 day simple moving average of $30.48 and a two-hundred day simple moving average of $32.17. Princeton Bancorp has a 52-week low of $23.49 and a 52-week high of $38.19.

Princeton Bancorp (NASDAQ:BPRN) last posted its earnings results on Thursday, January 25th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The business had revenue of $17.79 million during the quarter, compared to analysts’ expectations of $18.48 million. Research analysts predict that Princeton Bancorp will post 2.82 earnings per share for the current year.

Insider Activity at Princeton Bancorp

In other news, Director Martin Tuchman acquired 2,000 shares of Princeton Bancorp stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $31.45 per share, with a total value of $62,900.00. Following the completion of the purchase, the director now owns 77,256 shares in the company, valued at $2,429,701.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders bought 17,431 shares of company stock valued at $536,568. Corporate 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.