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

Princeton Bancorp, Inc. (NASDAQ:BPRN) has declared a quarterly dividend of $0.30 per share, according to Zacks reports. This announcement was made on Tuesday, October 22nd. Shareholders who are on record by Tuesday, November 5th will receive this dividend on Thursday, November 28th. Annually, this dividend amounts to $1.20, giving a yield of 3.35%. The cut-off date for the ex-dividend is also set for November 5th.

Dividend Growth and Payout Ratio

Princeton Bancorp has shown a strong history of dividend growth, averaging an increase of 44.2% per year over the past three years. The company's dividend payout ratio stands at 34.5%, which indicates that current earnings are adequate to cover the dividend payments. Analysts predict that the company will earn $3.28 per share in the upcoming year, suggesting that the $1.20 annual dividend will be well supported, reflected in an expected future payout ratio of 36.6%.

Stock Performance Overview

As of Friday, shares of Princeton Bancorp opened at $35.85. With a market capitalization of $227.65 million, the company exhibits a price-to-earnings (P/E) ratio of 20.49, as well as a beta value of 0.58. Over the past year, the stock hit a low of $28.66 and a high of $39.21, and it currently maintains a 50-day moving average of $36.64 along with a 200-day moving average of $34.08.

Recent Earnings Report

On October 29th, Princeton Bancorp released its latest quarterly earnings report. The company reported earnings per share (EPS) of $0.63, which was $0.06 below the consensus estimate of $0.69. The revenue for the quarter came in at $33.87 million, exceeding expectations of $19.30 million. In the same quarter the previous year, the firm recorded an EPS of $0.80. Sell-side analysts anticipate that the company will post an annual EPS of around $2.94.

Insider Transactions and Ownership

In a recent development, insider Stephanie Adkins sold 2,000 shares of Princeton Bancorp's stock on August 15th. The shares were sold at an average price of $35.10, totalling a transaction of $70,200.00. Following this sale, Adkins holds 7,377 shares of the company, valued at approximately $258,932.70. This sale accounts for a negligible decrease in her ownership stake. Insider transactions are documented through filings with the Securities and Exchange Commission (SEC), where information can be accessed. Notably, corporate insiders own around 23.00% of the overall company stock.

Company Overview

Princeton Bancorp, Inc. serves as the bank holding company for The Bank of Princeton, which provides a wide array of banking services and products. These include various deposit options, such as checking and savings accounts, along with certificates of deposit. The firm also offers traditional retail banking services, residential mortgage loans, commercial loans, and consumer loans, including home equity lines.

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