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

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) declared a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Shareholders of record on Wednesday, August 6th will be given a dividend of 0.30 per share on Friday, August 29th. This represents a $1.20 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, August 6th.

Princeton Bancorp has a payout ratio of 33.7% indicating that 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 Trading Down 3.0%

BPRN stock traded down $0.98 during mid-day trading on Thursday, hitting $31.54. The stock had a trading volume of 7,177 shares, compared to its average volume of 9,911. Princeton Bancorp has a 52 week low of $27.25 and a 52 week high of $39.35. The firm has a market capitalization of $218.57 million, a P/E ratio of 17.82 and a beta of 0.62. The firm has a fifty day simple moving average of $31.15 and a 200 day simple moving average of $31.13.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.12. As a group, equities analysts expect that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Stephanie Adkins sold 1,000 shares of the company's stock in a transaction 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 sale, the insider directly owned 10,794 shares of the company's stock, valued at approximately $338,607.78. This represents a 8.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin Tuchman acquired 1,044 shares of Princeton Bancorp stock in a transaction dated Friday, June 6th. The stock was purchased at an average cost of $30.47 per share, for a total transaction of $31,810.68. Following the completion of the purchase, the director owned 117,838 shares in the company, valued at approximately $3,590,523.86. The trade was a 0.89% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 9,079 shares of company stock worth $279,450 and have sold 1,933 shares worth $61,541. Insiders own 23.00% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Princeton Bancorp stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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. Institutional investors and hedge funds own 43.36% of the company's stock.

Wall Street Analyst Weigh In

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

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.

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