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

Princeton Bancorp, Inc. (NASDAQ:BPRN) declared a quarterly dividend on Wednesday, April 24th, Wall Street Journal reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.30 per share on Friday, May 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, May 9th.

Princeton Bancorp has increased its dividend payment by an average of 44.2% annually over the last three years and has raised its dividend every year for the last 3 years. Princeton Bancorp has a dividend payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Princeton Bancorp to earn $3.17 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 37.9%.

Princeton Bancorp Price Performance

NASDAQ BPRN opened at $30.35 on Tuesday. The business’s fifty day moving average price is $30.23 and its 200-day moving average price is $32.22. The stock has a market capitalization of $192.42 million, a price-to-earnings ratio of 8.07 and a beta of 0.60. Princeton Bancorp has a 1-year low of $23.49 and a 1-year high of $38.19.

Insider Activity

In related news, Director Martin Tuchman bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were bought at an average cost of $29.43 per share, with a total value of $58,860.00. Following the acquisition, the director now owns 90,819 shares in the company, valued at $2,672,803.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have bought 17,384 shares of company stock valued at $529,924 in the last ninety days. 23.60% of the stock is currently owned by company insiders.

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.