Princeton Bancorp (NASDAQ:BPRN) Rating Lowered to Strong Sell at Zacks Research

Princeton Bancorp (NASDAQ:BPRN) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

BPRN has been the topic of several other research reports. Weiss Ratings raised Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Hovde Group boosted their price objective on shares of Princeton Bancorp from $35.00 to $37.50 and gave the company a “market perform” rating in a research report on Tuesday. Finally, Janney Montgomery Scott raised shares of Princeton Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Princeton Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Princeton Bancorp Trading Down 2.5%

Shares of NASDAQ:BPRN opened at $36.90 on Tuesday. The company has a market cap of $249.44 million, a price-to-earnings ratio of 13.57 and a beta of 0.53. Princeton Bancorp has a 12 month low of $27.25 and a 12 month high of $37.99. The company has a 50-day moving average price of $35.52 and a 200 day moving average price of $33.28.

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

Insider Buying and Selling at Princeton Bancorp

In other news, Director Martin Tuchman purchased 2,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were acquired at an average price of $32.30 per share, with a total value of $64,600.00. Following the transaction, the director owned 13,604 shares of the company’s stock, valued at $439,409.20. This represents a 17.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew T. Clark sold 1,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $32.62, for a total value of $48,930.00. Following the transaction, the insider directly owned 81 shares in the company, valued at $2,642.22. The trade was a 94.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired a total of 8,601 shares of company stock valued at $281,641 over the last quarter. Company insiders own 23.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BPRN. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Princeton Bancorp in the 2nd quarter valued at about $38,000. Raymond James Financial Inc. purchased a new position in Princeton Bancorp during the second quarter valued at approximately $61,000. Tower Research Capital LLC TRC increased its holdings in Princeton Bancorp by 584.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock valued at $67,000 after buying an additional 1,871 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Princeton Bancorp by 14.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock worth $103,000 after buying an additional 431 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Princeton Bancorp by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock worth $219,000 after buying an additional 892 shares during the period. Hedge funds and other institutional investors own 43.36% of the company’s stock.

About Princeton Bancorp

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.