Princeton Bancorp, Inc. (NASDAQ:BPRN – Get Free Report) declared a quarterly dividend on Friday, April 26th, 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 3.99%. The ex-dividend date is Thursday, May 9th.
Princeton Bancorp has raised its dividend payment by an average of 33.9% annually over the last three years and has increased its dividend every year for the last 3 years. Princeton Bancorp has a payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Princeton Bancorp to earn $3.00 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 40.0%.
Princeton Bancorp Stock Up 1.9 %
BPRN stock opened at $30.05 on Friday. The stock has a market capitalization of $190.52 million, a PE ratio of 7.99 and a beta of 0.58. Princeton Bancorp has a 52 week low of $23.49 and a 52 week high of $38.19. The firm has a 50 day moving average of $30.42 and a 200 day moving average of $32.20.
Insider Buying and Selling
In other news, Director Martin Tuchman purchased 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were acquired at an average price of $29.74 per share, for a total transaction of $148,700.00. Following the purchase, the director now owns 88,819 shares in the company, valued at $2,641,477.06. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought 17,431 shares of company stock worth $536,568 in the last 90 days. Insiders own 23.00% of the company’s stock.
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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