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

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 given 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 raised its dividend by an average of 22.1% annually over the last three years. Princeton Bancorp has a dividend payout ratio of 31.1% meaning 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 Price Performance

Princeton Bancorp stock opened at $32.66 on Thursday. The stock’s 50 day moving average is $35.56 and its 200 day moving average is $36.21. Princeton Bancorp has a one year low of $29.02 and a one year high of $39.35. The firm has a market cap of $223.72 million, a P/E ratio of 18.66 and a beta of 0.61.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $19.30 million. During the same quarter in the prior year, the business earned $0.80 EPS. Equities analysts anticipate that Princeton Bancorp will post 2.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Princeton Bancorp

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.