Princeton Bancorp, Inc. Announces $0.30 Quarterly Dividend

Princeton Bancorp, Inc. (NASDAQ:BPRN) officially declared a quarterly dividend of $0.30 per share on Tuesday, October 22nd. Shareholders who are on record as of Tuesday, November 5th, will receive this dividend on Thursday, November 28th. This quarterly payment translates to an annual dividend of $1.20, representing a yield of 3.35%. The ex-dividend date, which is crucial for investors wanting to claim this dividend, will also be on Tuesday, November 5th.

Dividend Growth and Coverage

Princeton Bancorp has demonstrated a strong commitment to returning value to its shareholders by increasing its dividend by an average of 44.2% annually over the past three years. Additionally, the company maintains a reasonable dividend payout ratio of 34.5%, indicating that its earnings are sufficient to cover the dividend payments. Analysts project that Princeton Bancorp will earn approximately $3.28 per share in the upcoming year, suggesting that the company is likely to continue supporting its annual dividend of $1.20, with an anticipated future payout ratio of 36.6%.

Stock Performance

On recent trading days, shares of BPRN opened at $35.85. The company boasts a market capitalization of about $227.65 million, a price-to-earnings (P/E) ratio of 20.49, and a beta of 0.58, which indicates lower volatility compared to the market. Over the past twelve months, Princeton Bancorp's stock has seen a low of $28.66 and a high of $39.21. Currently, its 50-day moving average stands at $36.64, with a 200-day moving average of $34.08.

Recent Earnings Report

The latest quarterly earnings report was released on October 29th. Princeton Bancorp reported earnings per share (EPS) of $0.63 for the quarter, which fell short of the consensus estimate of $0.69 by $0.06. The company recorded revenue of $33.87 million for that quarter, significantly surpassing the consensus expected revenue of $19.30 million. Last year during the same period, the firm achieved an EPS of $0.80. Market analysts believe that Princeton Bancorp is on track to post an EPS of 2.94 for the current year.

Insider Trading Activity

In related news, an insider at Princeton Bancorp, Stephanie Adkins, sold 2,000 shares of the company’s stock on August 15th, at an average price of $35.10. This transaction totaled $70,200. Following this sale, Adkins now holds 7,377 shares of Princeton Bancorp, valued at approximately $258,932. This sale indicated that her ownership in the company has decreased by 0.00%. This transaction was documented in a filing with the Securities & Exchange Commission. Notably, corporate insiders currently own about 23.00% of Princeton Bancorp's stock.

Company Overview

Princeton Bancorp, Inc. serves as the bank holding company for The Bank of Princeton, offering a wide array of banking products and services. The bank provides various deposit options such as checking, savings, and money market accounts. Additionally, it offers traditional retail banking services, as well as multiple loan products, including residential, commercial, construction, and consumer loans.

Dividend, Stocks, Earnings