Princeton Bancorp, Inc. (NASDAQ:BPRN) Plans Quarterly Dividend of $0.35

Princeton Bancorp, Inc. (NASDAQ:BPRN) announced a quarterly dividend on Wednesday, January 21st. Investors of record on Wednesday, February 4th will be given a dividend of 0.35 per share on Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, February 4th.

Princeton Bancorp has a dividend payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Princeton Bancorp to earn $3.73 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 37.5%.

Princeton Bancorp Price Performance

BPRN stock opened at $36.95 on Thursday. The firm has a market cap of $249.78 million, a PE ratio of 14.38 and a beta of 0.53. Princeton Bancorp has a 12 month low of $27.25 and a 12 month high of $37.50. The firm has a 50 day simple moving average of $34.76 and a 200 day simple moving average of $32.95.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $21.53 million during the quarter, compared to the consensus estimate of $20.33 million. As a group, sell-side analysts expect that Princeton Bancorp will post 3.35 earnings per share for the current year.

Insider Buying and Selling at Princeton Bancorp

In related news, Director Martin Tuchman acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were purchased at an average cost of $33.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director owned 7,548 shares of the company’s stock, valued at approximately $249,084. This trade represents a 196.23% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan Barrett acquired 1,600 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $31.50 per share, for a total transaction of $50,400.00. Following the purchase, the director owned 4,542 shares in the company, valued at approximately $143,073. This trade represents a 54.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 12,204 shares of company stock valued at $396,639 in the last 90 days. 23.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Princeton Bancorp

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of Princeton Bancorp by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock worth $219,000 after acquiring an additional 892 shares in the last quarter. Focus Partners Wealth acquired a new position in Princeton Bancorp in the 3rd quarter worth about $319,000. Alliancebernstein L.P. raised its stake in shares of Princeton Bancorp by 1.0% during the 3rd quarter. Alliancebernstein L.P. now owns 561,737 shares of the company’s stock worth $17,886,000 after purchasing an additional 5,810 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Princeton Bancorp by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 144,827 shares of the company’s stock worth $4,611,000 after buying an additional 2,505 shares during the last quarter. Finally, Royce & Associates LP grew its position in Princeton Bancorp by 14.3% in the third quarter. Royce & Associates LP now owns 80,366 shares of the company’s stock worth $2,559,000 after acquiring an additional 10,032 shares in the last quarter. 43.36% of the stock is owned by institutional investors and hedge funds.

About Princeton Bancorp

Princeton Bancorp, Inc is the bank holding company for Princeton Bank, a community-focused financial institution based in Princeton, New Jersey. Through its wholly owned subsidiary, the company offers a full suite of personal and business banking services designed to meet the needs of individuals, families and local enterprises in central and southern New Jersey.

The company’s core offerings include checking and savings accounts, consumer and commercial lending, mortgage origination and refinancing, as well as treasury management solutions for small-to-medium-sized businesses.