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

Princeton Bancorp, Inc. (NASDAQ:BPRN) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Wednesday, February 5th will be paid a dividend of 0.30 per share on Friday, February 28th. This represents a $1.20 annualized dividend and a yield of 3.67%.

Princeton Bancorp has increased its dividend payment by an average of 22.1% annually over the last three years. Princeton Bancorp has a dividend payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Princeton Bancorp to earn $3.55 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 33.8%.

Princeton Bancorp Trading Down 2.6 %

Shares of BPRN stock traded down $0.88 during trading on Wednesday, reaching $32.66. 7,419 shares of the company’s stock traded hands, compared to its average volume of 6,709. The firm’s 50-day moving average is $35.56 and its 200 day moving average is $36.21. The company has a market capitalization of $223.72 million, a P/E ratio of 18.66 and a beta of 0.61. Princeton Bancorp has a 1 year low of $29.02 and a 1 year high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The firm had revenue of $33.87 million during the quarter, compared to analysts’ expectations of $19.30 million. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, sell-side analysts predict that Princeton Bancorp will post 2.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Hovde Group started coverage on Princeton Bancorp in a research note on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 price objective on the 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.