Princeton Bancorp, Inc. (NASDAQ:BPRN) to Issue 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 dividend yield of 3.99%. The ex-dividend date of this dividend is Thursday, May 9th.

Princeton Bancorp has raised its dividend payment by an average of 33.9% annually 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 1.9 %

Shares of BPRN opened at $30.05 on Friday. The company has a market capitalization of $190.52 million, a PE ratio of 7.99 and a beta of 0.58. Princeton Bancorp has a 52-week low of $23.49 and a 52-week high of $38.19. The company has a 50-day simple moving average of $30.42 and a 200-day simple moving average of $32.18.

Princeton Bancorp (NASDAQ:BPRN) last issued its earnings results on Thursday, January 25th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $17.79 million during the quarter, compared to analysts’ expectations of $18.48 million. On average, research analysts anticipate that Princeton Bancorp will post 2.82 EPS for the current year.

Insider Activity at Princeton Bancorp

In other news, Director Martin Tuchman bought 2,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $31.45 per share, for a total transaction of $62,900.00. Following the completion of the transaction, the director now owns 77,256 shares in the company, valued at $2,429,701.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 17,431 shares of company stock valued at $536,568 in the last ninety days. 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.