DNB Financial Corp (NASDAQ:DNBF) Stake Boosted by Castine Capital Management LLC
Castine Capital Management LLC boosted its holdings in shares of DNB Financial Corp (NASDAQ:DNBF) by 29.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,055 shares of the financial services provider’s stock after buying an additional 50,986 shares during the quarter. DNB Financial accounts for 2.6% of Castine Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Castine Capital Management LLC owned approximately 0.05% of DNB Financial worth $8,425,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in DNBF. Citigroup Inc. acquired a new stake in DNB Financial during the 1st quarter worth approximately $57,000. O Shaughnessy Asset Management LLC acquired a new stake in DNB Financial during the 1st quarter worth approximately $95,000. PNC Financial Services Group Inc. lifted its holdings in DNB Financial by 62.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,230 shares of the financial services provider’s stock worth $149,000 after buying an additional 2,010 shares in the last quarter. Baldwin Investment Management LLC acquired a new stake in DNB Financial during the 1st quarter worth approximately $224,000. Finally, BRYN MAWR TRUST Co acquired a new stake in DNB Financial during the 4th quarter worth approximately $347,000. Institutional investors own 32.60% of the company’s stock.
A number of brokerages have recently weighed in on DNBF. Zacks Investment Research upgraded shares of DNB Financial from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, April 25th. ValuEngine upgraded shares of DNB Financial from a “hold” rating to a “buy” rating in a report on Tuesday, May 14th.
DNB Financial (NASDAQ:DNBF) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. DNB Financial had a net margin of 20.18% and a return on equity of 9.68%. The business had revenue of $10.67 million for the quarter, compared to analyst estimates of $10.40 million. Equities research analysts expect that DNB Financial Corp will post 2.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.62%. DNB Financial’s payout ratio is 11.29%.
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About DNB Financial
DNB Financial Corporation operates as the bank holding company for DNB First, National Association that provides a range of commercial banking products and services to individuals and small to medium sized businesses. The company offers deposit products, including money market, savings, demand, and NOW accounts; and time deposits, as well as certificates of deposit, including IRAs and brokered deposits.
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