Princeton Bancorp, Inc. (BPRN) to Issue Quarterly Dividend of $0.30 on May 29th

Princeton Bancorp, Inc. (NASDAQ:BPRN) announced a quarterly dividend on Tuesday, April 22nd, RTT News reports. Stockholders of record on Tuesday, May 6th will be paid a dividend of 0.30 per share on Thursday, May 29th. This represents a $1.20 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, May 6th.

Princeton Bancorp has raised its dividend by an average of 22.1% annually over the last three years. Princeton Bancorp has a payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Princeton Bancorp to earn $3.73 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 32.2%.

Princeton Bancorp Trading Down 1.1 %

BPRN stock opened at $29.21 on Thursday. The company’s 50 day moving average is $30.31 and its two-hundred day moving average is $33.61. Princeton Bancorp has a twelve month low of $27.25 and a twelve month high of $39.35. The stock has a market cap of $201.99 million, a P/E ratio of 17.39 and a beta of 0.48.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.11). On average, equities research analysts predict that Princeton Bancorp will post 3.35 earnings per share for the current year.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Tuesday, February 4th.

Insider Activity

In other news, Director Martin Tuchman acquired 22,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $32.71 per share, with a total value of $719,620.00. Following the purchase, the director now owns 629,141 shares of the company’s stock, valued at $20,579,202.11. This represents a 3.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.