Hovde Group Forecasts Strong Price Appreciation for Princeton Bancorp (NASDAQ:BPRN) Stock

Princeton Bancorp (NASDAQ:BPRN) had its price target upped by investment analysts at Hovde Group from $35.00 to $37.50 in a research note issued to investors on Tuesday. The firm presently has a “market perform” rating on the stock.

A number of other research analysts also recently issued reports on BPRN. Weiss Ratings upgraded shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Zacks Research downgraded shares of Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Janney Montgomery Scott upgraded shares of Princeton Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Princeton Bancorp Trading Up 3.5%

NASDAQ BPRN opened at $37.50 on Tuesday. The firm has a market capitalization of $253.50 million, a PE ratio of 13.79 and a beta of 0.53. The business’s 50-day moving average price is $35.39 and its two-hundred day moving average price is $33.21. Princeton Bancorp has a 12 month low of $27.25 and a 12 month high of $37.99.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). The company had revenue of $20.75 million during the quarter, compared to the consensus estimate of $21.03 million. As a group, analysts forecast that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Princeton Bancorp

In related news, Director Martin Tuchman acquired 2,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were purchased at an average price of $32.30 per share, for a total transaction of $64,600.00. Following the completion of the acquisition, the director owned 13,604 shares of the company’s stock, valued at approximately $439,409.20. This trade represents a 17.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew T. Clark sold 1,500 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $32.62, for a total transaction of $48,930.00. Following the transaction, the insider directly owned 81 shares in the company, valued at $2,642.22. This trade represents a 94.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders acquired 8,604 shares of company stock valued at $281,739. Insiders own 21.90% of the company’s stock.

Institutional Investors Weigh In On Princeton Bancorp

A number of hedge funds have recently added to or reduced their stakes in BPRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Princeton Bancorp by 14.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after acquiring an additional 431 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Princeton Bancorp by 3.6% in the 1st quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,169 shares in the last quarter. Roundview Capital LLC grew its position in Princeton Bancorp by 14.9% in the 2nd quarter. Roundview Capital LLC now owns 61,792 shares of the company’s stock valued at $1,887,000 after purchasing an additional 8,000 shares during the period. SilverOak Wealth Management LLC bought a new stake in Princeton Bancorp during the 2nd quarter valued at $232,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Princeton Bancorp by 24.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,688 shares of the company’s stock valued at $479,000 after purchasing an additional 3,044 shares in the last quarter. Institutional investors and hedge funds own 43.36% of the company’s stock.

Princeton Bancorp Company Profile

Princeton Bancorp, Inc is the bank holding company for Princeton Bank, a community-focused financial institution based in Princeton, New Jersey. Through its wholly owned subsidiary, the company offers a full suite of personal and business banking services designed to meet the needs of individuals, families and local enterprises in central and southern New Jersey.

The company’s core offerings include checking and savings accounts, consumer and commercial lending, mortgage origination and refinancing, as well as treasury management solutions for small-to-medium-sized businesses.