Princeton Bancorp, Inc. Stock Price, News & Analysis

On April 19, 2023, Princeton Bancorp, Inc. (NASDAQ: BPRN) declared a quarterly cash dividend of $0.30 per share for its common stock. This dividend will be paid on May 26, 2023 to shareholders who are on record by the end of business on May 9, 2023. The announcement reflects the Board's commitment to returning value to shareholders, as stated by CEO Edward Dietzler. However, future dividend payments will depend on various factors including the Company's financial condition and regulatory requirements. Princeton Bancorp operates The Bank of Princeton, with nineteen branches in New Jersey and additional locations in Pennsylvania.

The Bank of Princeton (BPRN) reported a net income of $7.2 million for Q4 2022, an increase from $7.0 million in Q3 2022 and $6.2 million in Q4 2021. This growth was attributed to a $550 thousand rise in net interest income, offset by declines in non-interest income and increases in tax expense. For the full year, net income rose to $26.5 million, up from $22.5 million in 2021, primarily due to a $5.5 million increase in net interest income. However, total assets fell by 5.1% to $1.60 billion, driven by decreases in cash and securities. The non-performing loans ratio was low at 0.02%.

On January 25, 2023, Princeton Bancorp, Inc. (NASDAQ – BPRN) declared a cash dividend of $0.30 per share, demonstrating its commitment to returning value to shareholders. The dividend is set to be paid on March 3, 2023, to those on record by February 10, 2023. CEO Edward Dietzler emphasized this decision reflects the company's strong financial condition. The board will assess future dividends based on various factors, including the company’s financial health and regulatory restrictions. Princeton Bancorp operates The Bank of Princeton, a community bank founded in 2007, with multiple branches across New Jersey and Pennsylvania.

On January 10, 2023, Princeton Bancorp, Inc. (NASDAQ: BPRN) completed a holding company reorganization, making the Company the parent company of The Bank of Princeton. Each share of the Bank's common stock has been converted into one share of the Company's common stock. This new structure allows the Company to pursue strategic growth opportunities and provides greater flexibility in raising capital and expanding non-banking financial activities.

The Bank of Princeton (BPRN) reported a net income of $7.0 million for Q3 2022, a 17.7% increase from Q3 2021, driven by higher net interest income and reduced loan loss provisions. Total assets decreased by 5.0% to $1.60 billion, primarily due to lower cash and cash equivalents. Non-performing loans remained low at 0.05%. The bank's net interest margin was 4.64%, up 45 basis points from the previous quarter. Stock repurchases progressed with 315,058 shares bought back, completing almost the entire buyback program.

The Bank of Princeton (NASDAQ – BPRN) has announced a definitive merger agreement to acquire Noah Bank for approximately $25.4 million, or $6.00 per share. This all-cash transaction aims to strengthen the Bank's market presence, particularly in northern New Jersey and New York City. The deal, which is subject to regulatory and stockholder approvals, is anticipated to close in Q2 2023. The merger is projected to be accretive to the Bank’s earnings in its first year and will increase its total assets to around $1.9 billion.

The Bank of Princeton (NASDAQ: BPRN) declared a cash dividend of $0.25 per share, payable on November 25, 2022, to shareholders of record by November 4, 2022. This decision reflects the Board's commitment to shareholder returns, according to President and CEO Edward Dietzler. The dividends are subject to regular evaluation by the Board considering the Bank's financial condition and regulatory constraints, indicating that future payments may vary.

The Bank of Princeton (NASDAQ: BPRN) reported unaudited results for Q2 2022, showing net income of $6.3 million ($0.98 per diluted share), a 14.5% increase from Q2 2021. This growth was driven by a $433,000 rise in net interest income and a $66,000 increase in non-interest income, despite rising non-interest expenses. For the first half of 2022, net income reached $12.3 million, up from $10.4 million year-over-year. The bank also initiated a stock buyback program, repurchasing 265,341 shares at an average price of $29.17. Total assets decreased by 3.7% to $1.63 billion.

The Bank of Princeton (NASDAQ: BPRN) declared a cash dividend of $0.25 per share at a Board meeting on July 20, 2022. This dividend will be distributed on August 26, 2022 to shareholders recorded by August 5, 2022. The Board emphasized their commitment to returning value to shareholders. Future dividends depend on the Bank's financial health and regulatory compliance, with the possibility of adjustments in future periods.