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

Princeton Bancorp, Inc. (NASDAQ:BPRNGet Free Report) declared a quarterly dividend on Monday, January 29th, Wall Street Journal reports. Investors of record on Friday, February 9th will be given a dividend of 0.30 per share on Friday, March 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Thursday, February 8th.

Princeton Bancorp has increased its dividend 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 dividend payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Princeton Bancorp to earn $3.08 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 39.0%.

Princeton Bancorp Trading Down 0.2 %

NASDAQ:BPRN opened at $33.07 on Wednesday. Princeton Bancorp has a 12 month low of $23.49 and a 12 month high of $38.19. The stock has a 50 day moving average of $34.77 and a two-hundred day moving average of $31.67. The firm has a market cap of $208.34 million, a P/E ratio of 8.21 and a beta of 0.62.

Institutional Investors Weigh In On Princeton Bancorp

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Princeton Bancorp by 0.8% in the first quarter. BlackRock Inc. now owns 54,819 shares of the company’s stock worth $1,582,000 after acquiring an additional 417 shares during the period. LSV Asset Management acquired a new position in Princeton Bancorp during the first quarter worth $170,000. Dimensional Fund Advisors LP lifted its stake in Princeton Bancorp by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 68,355 shares of the company’s stock worth $1,972,000 after purchasing an additional 3,757 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Princeton Bancorp by 7.1% in the first quarter. Vanguard Group Inc. now owns 268,080 shares of the company’s stock valued at $7,734,000 after acquiring an additional 17,744 shares in the last quarter. Finally, Fourthstone LLC raised its stake in shares of Princeton Bancorp by 23.7% in the first quarter. Fourthstone LLC now owns 74,615 shares of the company’s stock valued at $2,153,000 after acquiring an additional 14,303 shares in the last quarter. 43.64% of the stock is currently owned by hedge funds and other institutional investors.

About Princeton Bancorp

(Get Free Report)

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 various loan products comprising commercial real estate and multi-family, commercial and industrial, construction, paycheck protection program, residential first-lien mortgage, home equity, and consumer loans.

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Dividend History for Princeton Bancorp (NASDAQ:BPRN)

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