Princeton Bancorp, Inc. (BPRN) To Go Ex-Dividend on November 10th

Princeton Bancorp, Inc. (NASDAQ:BPRN) announced a quarterly dividend on Wednesday, October 28th. Investors of record on Wednesday, November 11th will be given a dividend of $0.40 per share on Wednesday, November 25th. This represents a $1.60 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a 14.3% increase from Princeton Bancorp’s previous quarterly dividend of $0.35.

Princeton Bancorp has increased its dividend payment by an average of 0.3% per year over the last three years. Princeton Bancorp has a payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Princeton Bancorp to earn $3.87 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 36.2%.

Princeton Bancorp Stock Down 3.4%

Shares of BPRN opened at $43.10 on Friday. The company has a market cap of $293.64 million, a price-to-earnings ratio of 14.37 and a beta of 0.47. Princeton Bancorp has a twelve month low of $30.76 and a twelve month high of $46.33. The company has a 50 day moving average of $43.32 and a two-hundred day moving average of $38.27.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.80). Princeton Bancorp had a return on equity of 7.43% and a net margin of 15.01%. The business had revenue of $22.47 million for the quarter, compared to analyst estimates of $22.35 million. On average, sell-side analysts expect that Princeton Bancorp will post 3.88 EPS for the current year.

Insider Activity at Princeton Bancorp

In related news, Director Martin Tuchman purchased 10,534 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of $42.98 per share, for a total transaction of $452,751.32. Following the purchase, the director owned 24,138 shares of the company’s stock, valued at $1,037,451.24. This trade represents a 77.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Clark sold 1,428 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.95, for a total transaction of $59,904.60. Following the transaction, the insider owned 1,428 shares in the company, valued at $59,904.60. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 23.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Princeton Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BPRN. BlackRock Inc. acquired a new stake in shares of Princeton Bancorp during the second quarter worth about $16,230,000. Empowered Funds LLC acquired a new position in Princeton Bancorp in the 2nd quarter worth approximately $1,276,000. Bank of New York Mellon Corp acquired a new position in Princeton Bancorp in the 2nd quarter worth approximately $1,198,000. Basswood Capital Management L.L.C. purchased a new position in Princeton Bancorp during the 2nd quarter worth approximately $3,701,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Princeton Bancorp during the 2nd quarter worth approximately $521,000. Hedge funds and other institutional investors own 43.36% of the company’s stock.

About Princeton Bancorp

Princeton Bancorp, Inc is a bank holding company headquartered in Princeton, New Jersey. Its principal subsidiary, The Bank of Princeton, provides banking services to individuals, businesses and organizations through its community banking franchise.

The Bank of Princeton offers deposit products, residential and commercial real estate loans, commercial and industrial financing, construction lending, consumer loans and other traditional banking services. It also provides online and mobile banking tools, treasury management and related services designed to support business and personal financial needs.

Founded in 2007, The Bank of Princeton serves communities in central New Jersey and the greater Philadelphia region, including southern New Jersey and nearby Pennsylvania markets.