Definitive Analysis
Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Princeton Bancorp, Inc. (BPRN)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$129.36 - $508.89$356.14
Multi-Stage$62.89 - $68.76$65.77
Blended Fair Value$210.95
Current Price$31.84
Upside562.55%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS42.82%0.00%1.101.070.930.630.390.180.030.000.000.00
YoY Growth--2.16%15.32%47.15%61.98%111.64%540.00%0.00%0.00%0.00%0.00%
Dividend Yield--3.59%3.53%2.93%2.19%1.36%0.79%0.09%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)17.76
(-) Cash Dividends Paid (M)8.27
(=) Cash Retained (M)9.49
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3.552.221.33
Cash Retained (M)9.499.499.49
(-) Cash Required (M)-3.55-2.22-1.33
(=) Excess Retained (M)5.947.278.16
(/) Shares Outstanding (M)6.946.946.94
(=) Excess Retained per Share0.861.051.18
LTM Dividend per Share1.191.191.19
(+) Excess Retained per Share0.861.051.18
(=) Adjusted Dividend2.052.242.37
WACC / Discount Rate7.17%7.17%7.17%
Growth Rate5.50%6.50%7.50%
Fair Value$129.36$356.14$508.89
Upside / Downside306.27%1,018.52%1,498.27%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)17.7618.9120.1421.4522.8524.3325.06
Payout Ratio46.56%55.25%63.93%72.62%81.31%90.00%92.50%
Projected Dividends (M)8.2710.4512.8815.5818.5821.9023.18

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.17%7.17%7.17%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)9.669.759.84
Year 2 PV (M)11.0011.2111.42
Year 3 PV (M)12.3012.6613.02
Year 4 PV (M)13.5614.0814.62
Year 5 PV (M)14.7815.4916.23
PV of Terminal Value (M)375.16393.28412.09
Equity Value (M)436.46456.47477.22
Shares Outstanding (M)6.946.946.94
Fair Value$62.89$65.77$68.76
Upside / Downside97.51%106.57%115.96%

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