Princeton Bancorp, Inc. (NASDAQ:BPRN) to Issue $0.35 Quarterly Dividend

Princeton Bancorp, Inc. (NASDAQ:BPRN) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Wednesday, August 5th will be given a dividend of 0.35 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, August 5th.

Princeton Bancorp has raised its dividend payment by an average of 0.3%annually over the last three years. Princeton Bancorp has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Princeton Bancorp to earn $3.83 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 36.6%.

Princeton Bancorp Trading Down 1.8%

Shares of Princeton Bancorp stock opened at $37.69 on Thursday. The firm’s 50 day moving average is $36.88 and its 200 day moving average is $35.74. The firm has a market capitalization of $256.67 million, a PE ratio of 13.18 and a beta of 0.48. Princeton Bancorp has a 1 year low of $29.69 and a 1 year high of $39.47.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Princeton Bancorp had a return on equity of 7.20% and a net margin of 14.20%.The company had revenue of $21.31 million during the quarter, compared to analysts’ expectations of $21.06 million. As a group, research analysts anticipate that Princeton Bancorp will post 3.67 earnings per share for the current year.

Insider Activity at Princeton Bancorp

In related news, insider Stephanie Adkins sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $35.04, for a total transaction of $56,064.00. Following the completion of the sale, the insider owned 21,272 shares of the company’s stock, valued at $745,370.88. This trade represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 23.10% of the stock is currently owned by insiders.

Institutional Trading of Princeton Bancorp

Several hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new position in Princeton Bancorp during the first quarter worth $30,000. Raymond James Financial Inc. bought a new position in shares of Princeton Bancorp during the 2nd quarter worth about $61,000. Tower Research Capital LLC TRC boosted its position in shares of Princeton Bancorp by 584.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock worth $67,000 after purchasing an additional 1,871 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Princeton Bancorp by 14.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after buying an additional 431 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Princeton Bancorp by 50.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,855 shares of the company’s stock worth $203,000 after buying an additional 1,953 shares during the period. Institutional investors own 43.36% of the company’s stock.

About Princeton Bancorp

Princeton Bancorp, Inc is the bank holding company for Princeton Bank, a community-focused financial institution based in Princeton, New Jersey. Through its wholly owned subsidiary, the company offers a full suite of personal and business banking services designed to meet the needs of individuals, families and local enterprises in central and southern New Jersey.

The company’s core offerings include checking and savings accounts, consumer and commercial lending, mortgage origination and refinancing, as well as treasury management solutions for small-to-medium-sized businesses.