Prospector Partners LLC Lowers Holdings in DNB Financial Corp (DNBF)
Prospector Partners LLC decreased its position in shares of DNB Financial Corp (NASDAQ:DNBF) by 34.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,600 shares of the financial services provider’s stock after selling 6,600 shares during the period. Prospector Partners LLC owned approximately 0.30% of DNB Financial worth $444,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of DNB Financial by 78.7% during the second quarter. Vanguard Group Inc. now owns 91,445 shares of the financial services provider’s stock valued at $3,136,000 after buying an additional 40,267 shares during the last quarter. State Street Corp bought a new position in shares of DNB Financial during the second quarter valued at about $994,000. Banc Funds Co. LLC grew its stake in shares of DNB Financial by 12.7% during the second quarter. Banc Funds Co. LLC now owns 245,767 shares of the financial services provider’s stock valued at $8,430,000 after buying an additional 27,679 shares during the last quarter. Northern Trust Corp grew its stake in shares of DNB Financial by 218.7% in the second quarter. Northern Trust Corp now owns 38,661 shares of the financial services provider’s stock worth $1,326,000 after purchasing an additional 26,530 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of DNB Financial in the second quarter worth about $349,000. Institutional investors and hedge funds own 30.65% of the company’s stock.
Several research firms recently issued reports on DNBF. Zacks Investment Research raised DNB Financial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. ValuEngine raised DNB Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.
DNB Financial (NASDAQ:DNBF) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.04. DNB Financial had a net margin of 19.77% and a return on equity of 8.33%. The firm had revenue of $10.74 million during the quarter, compared to analyst estimates of $10.30 million. equities research analysts anticipate that DNB Financial Corp will post 2.2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.82%. DNB Financial’s payout ratio is 12.67%.
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DNB Financial Profile
DNB Financial Corporation is a bank holding company for DNB First, National Association (the Bank). The Company operates through the Community Banking segment. The Bank is a commercial bank providing a range of services to individuals and small to medium sized businesses in the southeastern Pennsylvania market area, including accepting time, demand and savings deposits, and making secured and unsecured commercial, real estate and consumer loans.
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