Princeton Bancorp Q2 Net Interest Income Jumps 6% on Lower Costs
BPRN sits 29% above its 52-week low of $29.695.
Summary
Princeton Bancorp's Q2 net interest income rose 6% sequentially to $20 million, driven by lower interest expense and higher interest income. Net income reached $7.1 million ($1.04 EPS), up from $6.2 million in Q1, aided by a $353,000 reversal of credit losses. The net interest margin improved to 3.86%. This follows a strong Q1 that saw an 18% EPS increase and a dividend hike. The stock trades near its 52-week high, reflecting sustained earnings momentum. No forward guidance was provided.
At the time of this announcement, BPRN was trading at $38.27 on NASDAQ in the Finance sector, with a market capitalization of approximately $258.6M. The 52-week trading range was $29.70 to $39.48. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.