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

Princeton Bancorp, Inc. (NASDAQ:BPRN) declared a quarterly dividend on October 22nd. Shareholders who are on record by November 5th will receive a dividend of $0.30 per share on November 28th. This dividend amounts to an annualized total of $1.20, translating to a yield of 3.35%. The ex-dividend date is set for November 5th.

Dividend Growth and Payout Ratio

Over the past three years, Princeton Bancorp has increased its dividend by an impressive average of 44.2% each year. The company maintains a dividend payout ratio of 34.5%, suggesting that it can comfortably support its dividend payments through earnings. Analysts forecast that Princeton Bancorp will earn approximately $3.28 per share next year. This suggests that the firm will likely continue to sustain its $1.20 annual dividend with an anticipated payout ratio of 36.6% in the future.

Stock Performance and Financial Overview

As of Friday, shares of BPRN opened at $35.85. The company boasts a market capitalization of $227.65 million, a P/E ratio of 20.49, and a beta of 0.58. Princeton Bancorp's stock has ranged between a low of $28.66 and a high of $39.21 over the past year, with 50-day and 200-day moving averages noted at $36.64 and $34.08 respectively.

Recent Earnings Report

Princeton Bancorp recently released its quarterly earnings on October 29th. For the quarter, the company reported earnings of $0.63 per share, which was below the consensus estimate of $0.69 by $0.06. Revenue during this quarter totaled $33.87 million, surpassing the estimate of $19.30 million. Last year, the company reported earnings of $0.80 per share during the same quarter. Analysts predict that Princeton Bancorp will show an EPS of 2.94 for the current fiscal year.

Insider Trading Activity

In related news, insider Stephanie Adkins sold 2,000 shares of the company’s stock on August 15th at an average price of $35.10, resulting in a transaction valued at $70,200. After this sale, she retained ownership of 7,377 shares, valued at approximately $258,932.70. Corporate insiders currently hold 23% of the company’s shares.

About Princeton Bancorp

Princeton Bancorp, Inc. serves as the bank holding company for The Bank of Princeton, offering a variety of banking products and services. It provides several deposit accounts such as checking, savings, and money market accounts, along with certificates of deposit. The company also extends traditional retail banking services, including mortgage loans for residential properties, multi-family and commercial mortgages, construction loans, business loans, and consumer loans like home equity lines of credit.

dividend, stocks, earnings