Bank Of Princeton (BPRN) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bank Of Princeton (NASDAQ:BPRN) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “The Bank of Princeton is a community bank which provides banking products and services. The company offers checking accounts, savings accounts, attorney trust accounts, money market accounts and certificates of deposit; and commercial real estate, commercial and industrial, construction, residential first-lien mortgage, home equity and consumer loans, as well as lines of credit. It operates primarily in New Jersey, Hamilton, Pennington, Montgomery, Monroe Township, Lambertville, New Brunswick, Lawrenceville. The Bank of Princeton is headquartered in Princeton, New Jersey. “

A number of other equities research analysts have also recently issued reports on the company. B. Riley decreased their target price on Bank Of Princeton from $36.00 to $32.00 and set a hold rating for the company in a research report on Monday, November 5th. ValuEngine cut Bank Of Princeton from a hold rating to a sell rating in a research report on Thursday, November 1st. Finally, Boenning Scattergood reaffirmed a buy rating on shares of Bank Of Princeton in a research report on Friday, October 26th.

Bank Of Princeton stock traded down $0.54 during trading hours on Wednesday, reaching $29.71. 6,660 shares of the company were exchanged, compared to its average volume of 8,587. The stock has a market capitalization of $197.79 million, a P/E ratio of 15.08 and a beta of 0.19. Bank Of Princeton has a 12 month low of $26.77 and a 12 month high of $35.45.

Bank Of Princeton (NASDAQ:BPRN) last announced its earnings results on Thursday, October 25th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $11.19 million for the quarter, compared to the consensus estimate of $11.67 million. Analysts expect that Bank Of Princeton will post 2.15 EPS for the current year.

The firm also recently declared a Not Available dividend, which will be paid on Friday, November 23rd. Stockholders of record on Monday, November 5th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, November 2nd. Bank Of Princeton’s dividend payout ratio (DPR) is presently 6.09%.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Bank Of Princeton by 4.1% during the third quarter. BlackRock Inc. now owns 283,058 shares of the company’s stock worth $8,645,000 after buying an additional 11,224 shares during the last quarter. Systematic Financial Management LP lifted its holdings in shares of Bank Of Princeton by 11.4% during the third quarter. Systematic Financial Management LP now owns 238,993 shares of the company’s stock worth $7,299,000 after buying an additional 24,524 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Bank Of Princeton by 58.9% during the first quarter. Millennium Management LLC now owns 133,098 shares of the company’s stock worth $4,591,000 after buying an additional 49,330 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Bank Of Princeton by 727.9% during the second quarter. Northern Trust Corp now owns 55,393 shares of the company’s stock worth $1,842,000 after buying an additional 48,702 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Bank Of Princeton by 45.4% during the third quarter. Alliancebernstein L.P. now owns 53,198 shares of the company’s stock worth $1,625,000 after buying an additional 16,600 shares during the last quarter. Institutional investors own 34.14% of the company’s stock.

Bank Of Princeton Company Profile

The Bank of Princeton provides various banking products and services in the United States. The company offers checking accounts, savings accounts, attorney trust accounts, money market accounts, and certificates of deposit; and commercial real estate and multi-family, commercial and industrial, construction, residential first-lien mortgage, home equity, and consumer loans, as well as lines of credit.

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