Princeton Bancorp, Inc. Stock Price, News & Analysis

The Bank of Princeton (NASDAQ – BPRN) declared a cash dividend of $0.25 per share on April 20, 2022. This dividend will be paid on May 27, 2022 to shareholders of record by the close of business on May 6, 2022. The Board of Directors emphasized its commitment to returning value to shareholders. The Bank pays dividends quarterly, subject to their financial condition and regulatory considerations. Future dividends may be reduced or eliminated based on several factors, including economic conditions and regulatory requirements.

The Bank of Princeton (NASDAQ – BPRN) announced plans to form a bank holding company, Princeton Bancorp, Inc., pending stockholder and regulatory approvals. This restructuring aims to enhance financial and operational flexibility and maintain shareholder rights and ownership percentages. Chairman Richard Gillespie and CEO Edward Dietzler emphasized the benefits of improved capital access and adaptability to market conditions. The transition is expected to conclude by the mid-2022, without affecting the Bank's operations or services, which will continue as usual.

The Bank of Princeton (BPRN) reported a net income of $6.2 million or $0.92 per diluted share for Q4 2021, a rise from $5.9 million in Q3 2021 and $4.1 million in Q4 2020. Key drivers included a $900 thousand reduction in loan loss provisions and a $149 thousand increase in non-interest income, despite a $414 thousand rise in non-interest expenses. Total assets reached $1.69 billion, with a 5.2% increase year-over-year. The efficiency ratio improved to 50.4%.

The Bank of Princeton (NASDAQ – BPRN) declared a cash dividend of $0.25 per share, a 39% increase from the previous quarter, scheduled for February 28, 2022. This move reflects the Board's commitment to returning value to shareholders. Additionally, a new stock repurchase program will allow management to buy back up to 5% of outstanding shares, with a maximum expenditure of $10.3 million, pending regulatory approval. These initiatives signal a strong focus on enhancing shareholder value.

The Bank of Princeton (BPRN) reported a net income of $5.9 million, or $0.88 per diluted share, for Q3 2021, a rise from $5.5 million in Q2 2021 and $3.5 million in Q3 2020. This increase is attributed to a $376 thousand rise in net-interest income and a $300 thousand increase in non-interest income, despite higher provisions for loan losses. Total assets grew by 4.1% to $1.67 billion, while total deposits increased by 4.7%. The bank continued its stock buyback program, purchasing 73,259 shares. Asset quality remains stable with nonperforming loans at 0.16%. The full impact of COVID-19 on operations remains uncertain.

The Bank of Princeton (NASDAQ – BPRN) has declared a cash dividend of $0.18 per share, set for payment on November 26, 2021. This dividend reflects the commitment of the Board of Directors to return value to shareholders, as stated by President and CEO Edward Dietzler. Shareholders of record by the close of business on November 5, 2021 will receive this payment. The Bank pays dividends quarterly, subject to the Board's discretion based on financial conditions and regulatory considerations.

The Bank of Princeton (BPRN) announced a net income of $5.5 million for Q2 2021, reflecting a 12.24% increase from Q1 2021 and a 77.78% rise compared to Q2 2020. Key drivers included a $980,000 rise in net-interest income and reduced provisions for loan losses. Total assets grew by 2.0% to $1.64 billion, while total loans increased by $33.7 million. The Bank's Stock Buyback Program commenced, repurchasing 153,932 shares at an average price of $28.96. Non-performing assets rose by 121.5% to $3.7 million, emphasizing potential risks amid the ongoing pandemic.

The Bank of Princeton (BPRN) declared a cash dividend of $0.18 per share during its Board meeting on July 21, 2021. Shareholders of record as of August 6, 2021 will receive the dividend on August 27, 2021. This decision underscores the Board's commitment to providing a return to shareholders. Dividends are subject to quarterly determination based on the Bank's financial condition and regulatory constraints, implying potential future changes. The Bank operates 20 branches in New Jersey and 4 in the Philadelphia area, emphasizing its community banking focus.

The Bank of Princeton (NASDAQ: BPRN) reported a strong first-quarter 2021 with a net income of $4.9 million ($0.70 per diluted share), up from $4.1 million in Q4 2020. Key highlights include a $94.2 million increase in total loans and a 40.5% rise in net interest income year-over-year. Despite a 49.1% increase in non-performing assets, the bank's efficiency ratio improved to 51.8%. The financial results were bolstered by strong asset growth and effective cost management, positioning the bank favorably amidst ongoing COVID-19 challenges.