Princeton Bancorp (NASDAQ:BPRN) Trading 0.5% Higher – Still a Buy?

Princeton Bancorp, Inc. (NASDAQ:BPRN) shares traded up 0.5% during trading on Thursday . The stock traded as high as $35.39 and last traded at $34.87. 9,593 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 19,039 shares. The stock had previously closed at $34.69.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BPRN shares. Weiss Ratings raised Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Hovde Group upped their price objective on shares of Princeton Bancorp from $35.00 to $37.50 and gave the stock a “market perform” rating in a report on Tuesday, February 3rd. Finally, Zacks Research cut shares of Princeton Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Princeton Bancorp Price Performance

The company has a fifty day moving average price of $35.72 and a two-hundred day moving average price of $33.73. The firm has a market cap of $235.72 million, a price-to-earnings ratio of 12.82 and a beta of 0.53.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.04). The business had revenue of $20.75 million for the quarter, compared to analysts’ expectations of $21.03 million. On average, research analysts expect that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Princeton Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 4th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.40 annualized dividend and a yield of 4.0%. Princeton Bancorp’s dividend payout ratio is currently 51.47%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Princeton Bancorp during the 2nd quarter worth $38,000. Raymond James Financial Inc. acquired a new stake in shares of Princeton Bancorp during the second quarter worth $61,000. Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchasing an additional 1,871 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Princeton Bancorp by 14.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after purchasing an additional 431 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Princeton Bancorp by 50.1% in the 4th quarter. Wells Fargo & Company MN now owns 5,855 shares of the company’s stock worth $203,000 after purchasing an additional 1,953 shares in the last quarter. 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.