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

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) declared a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Shareholders of record on Wednesday, August 6th will be paid a dividend of 0.30 per share on Friday, August 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Wednesday, August 6th.

Princeton Bancorp has a dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Princeton Bancorp to earn $3.73 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 32.2%.

Princeton Bancorp Price Performance

BPRN traded down $0.39 during trading on Monday, reaching $31.31. 5,159 shares of the company's stock were exchanged, compared to its average volume of 9,216. The stock has a market capitalization of $216.98 million, a P/E ratio of 29.26 and a beta of 0.62. The company's fifty day simple moving average is $31.11 and its 200-day simple moving average is $31.09. Princeton Bancorp has a 1 year low of $27.25 and a 1 year high of $39.35.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.12. The company had revenue of $21.06 million during the quarter, compared to analyst estimates of $19.25 million. Equities analysts forecast that Princeton Bancorp will post 3.35 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Princeton Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, June 29th.

Insider Activity

In other Princeton Bancorp news, insider Stephanie Adkins sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $31.37, for a total value of $31,370.00. Following the transaction, the insider directly owned 10,794 shares in the company, valued at $338,607.78. This represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin Tuchman purchased 1,044 shares of the company's stock in a transaction on Friday, June 6th. The stock was bought at an average price of $30.47 per share, for a total transaction of $31,810.68. Following the completion of the purchase, the director directly owned 117,838 shares of the company's stock, valued at $3,590,523.86. The trade was a 0.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 8,079 shares of company stock worth $249,450 and have sold 1,933 shares worth $61,541. 21.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Princeton Bancorp

An institutional investor recently raised its position in Princeton Bancorp stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Princeton Bancorp, Inc. (NASDAQ:BPRN - Free Report) by 14.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,360 shares of the company's stock after buying an additional 431 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Princeton Bancorp were worth $103,000 as of its most recent SEC filing. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

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.