Insider Buying: Princeton Bancorp (NASDAQ:BPRN) Director Buys 493 Shares of Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman acquired 493 shares of the company’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of $33.00 per share, for a total transaction of $16,269.00. Following the completion of the purchase, the director directly owned 2,496 shares in the company, valued at $82,368. This trade represents a 24.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Martin Tuchman also recently made the following trade(s):

• On Wednesday, November 5th, Martin Tuchman bought 3 shares of Princeton Bancorp stock. The stock was acquired at an average cost of $32.60 per share, with a total value of $97.80.
• On Tuesday, November 4th, Martin Tuchman acquired 2,000 shares of Princeton Bancorp stock. The shares were purchased at an average cost of $32.25 per share, with a total value of $64,500.00.
• On Monday, September 8th, Martin Tuchman bought 10,000 shares of Princeton Bancorp stock. The shares were acquired at an average price of $33.00 per share, with a total value of $330,000.00.

Princeton Bancorp Stock Down 2.2%

Shares of Princeton Bancorp stock traded down $0.74 during trading on Wednesday, hitting $32.73. 5,711 shares of the company were exchanged, compared to its average volume of 9,722. Princeton Bancorp, Inc. has a fifty-two week low of $27.25 and a fifty-two week high of $38.78. The firm has a 50 day moving average price of $31.71 and a 200 day moving average price of $31.57. The stock has a market capitalization of $221.32 million, a price-to-earnings ratio of 12.73 and a beta of 0.65.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The firm had revenue of $21.53 million for the quarter, compared to analysts’ expectations of $20.33 million. Analysts predict that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current year.

Princeton Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be issued a $0.35 dividend. This is an increase from Princeton Bancorp’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, November 7th. Princeton Bancorp’s dividend payout ratio is presently 54.47%.

Institutional Trading of Princeton Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Princeton Capital Management LLC bought a new stake in Princeton Bancorp during the 3rd quarter valued at approximately $249,000. GSA Capital Partners LLP bought a new position in Princeton Bancorp in the 3rd quarter worth $232,000. JPMorgan Chase & Co. increased its holdings in Princeton Bancorp by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock valued at $219,000 after acquiring an additional 892 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Princeton Bancorp by 584.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock worth $67,000 after purchasing an additional 1,871 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Princeton Bancorp during the 2nd quarter valued at approximately $61,000. Institutional investors own 43.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BPRN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Princeton Bancorp in a research report on Wednesday, October 8th. Janney Montgomery Scott upgraded shares of Princeton Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Zacks Research upgraded Princeton Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Princeton Bancorp presently has a consensus rating of “Buy” and a consensus target price of $37.50.

Princeton Bancorp Company Profile

Princeton Bancorp, Inc operates as the bank holding company for The Bank of Princeton that provides various banking products and services. It accepts various deposit products, including checking, savings, attorney trust, and money market accounts, as well as certificates of deposit. The company also offers traditional retail banking services, one-to-four-family residential mortgage loans, multi-family and commercial mortgage loans, construction loans, and commercial business loans, as well as consumer loans, including home equity loans and lines of credit.