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

Princeton Bancorp, Inc. (NASDAQ:BPRN) has officially announced a quarterly dividend amounting to $0.30 per share. This announcement was made on Tuesday, October 22nd. Shareholders who are on record by Tuesday, November 5th, will receive their dividend payment on Thursday, November 28th.

This quarterly dividend translates into an annualized dividend of $1.20, providing investors with a yield of 3.35%. It is important to note that the ex-dividend date is also set for Tuesday, November 5th.

Dividend Growth and Earnings Insights

Over the past three years, Princeton Bancorp has shown impressive growth in its dividend payouts, increasing by an average of 44.2% each year. Furthermore, the company's current dividend payout ratio stands at 34.5%, indicating that its earnings sufficiently cover the dividend payments. Analysts forecast that Princeton Bancorp will earn approximately $3.28 per share in the upcoming year, which suggests that the company should maintain its ability to cover the annual dividend of $1.20, reflecting an estimated future payout ratio of 36.6%.

Stock Performance Overview

As of Friday, shares of Princeton Bancorp (BPRN) opened at $35.85. The company's market capitalization is reported at $227.65 million. Princeton Bancorp has a price-to-earnings (P/E) ratio of 20.49 and a beta of 0.58, indicating a low volatility compared to the broader market. Over the past year, the company has experienced a low of $28.66 and a high of $39.21. Currently, the 50-day moving average is $36.64, while the 200-day moving average sits at $34.08.

Recent Earnings Results

Princeton Bancorp recently reported its quarterly earnings on Tuesday, October 29th. The company posted earnings per share (EPS) of $0.63 for the quarter, which fell short of the consensus estimate of $0.69 by $0.06. The firm's revenue for this quarter reached $33.87 million, significantly surpassing the consensus estimate of $19.30 million. In contrast, last year during the same period, the company reported an EPS of $0.80. Analysts currently predict that Princeton Bancorp will end the year with an average EPS of 2.94.

Insider Trading Activity

In related news, insider Stephanie Adkins recently sold 2,000 shares of the company's stock on Thursday, August 15th. The shares were sold at an average price of $35.10 per share, amounting to a total transaction value of $70,200. Following this sale, Adkins now holds 7,377 shares with a calculated value of approximately $258,932.70. This transaction resulted in a negligible decrease in her ownership stake. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission.

About Princeton Bancorp

Princeton Bancorp, Inc. serves as the bank holding company for The Bank of Princeton, which offers a range of banking services. These services include various deposit products such as checking and savings accounts, money market accounts, and certificates of deposit. The bank also provides traditional retail banking services, residential mortgage loans, commercial mortgage loans, construction loans, commercial business loans, and consumer loans including home equity loans and lines of credit.

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