Insider Buying: Princeton Bancorp (NASDAQ:BPRN) Director Purchases 7,000 Shares of Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Stephen Shueh bought 7,000 shares of the stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $30.44 per share, for a total transaction of $213,080.00. Following the completion of the transaction, the director directly owned 42,038 shares of the company’s stock, valued at approximately $1,279,636.72. The trade was a 19.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Princeton Bancorp Trading Down 0.3%

NASDAQ BPRN traded down $0.09 during trading on Thursday, hitting $34.49. 1,309 shares of the company traded hands, compared to its average volume of 15,441. Princeton Bancorp, Inc. has a 12 month low of $27.25 and a 12 month high of $37.99. The business has a fifty day simple moving average of $34.91 and a 200 day simple moving average of $33.84. The company has a market capitalization of $234.39 million, a P/E ratio of 12.68 and a beta of 0.52.

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

Princeton Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 4th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.40 dividend on an annualized basis and a yield of 4.1%. Princeton Bancorp’s dividend payout ratio is presently 51.47%.

Institutional Investors Weigh In On Princeton Bancorp

A number of institutional investors have recently added to or reduced their stakes in BPRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 acquiring an additional 431 shares in the last quarter. Empowered Funds LLC increased its position in shares of Princeton Bancorp by 3.6% during the first quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,169 shares during the period. Geode Capital Management LLC raised its stake in shares of Princeton Bancorp by 1.2% in the second quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock valued at $3,890,000 after purchasing an additional 1,542 shares in the last quarter. Systematic Financial Management LP lifted its position in Princeton Bancorp by 1.0% in the second quarter. Systematic Financial Management LP now owns 345,247 shares of the company’s stock worth $10,544,000 after purchasing an additional 3,269 shares during the period. Finally, Fourthstone LLC lifted its position in Princeton Bancorp by 103.4% in the second quarter. Fourthstone LLC now owns 20,454 shares of the company’s stock worth $625,000 after purchasing an additional 10,400 shares during the period. 43.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BPRN shares. Zacks Research lowered shares of Princeton Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Weiss Ratings upgraded shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Finally, Hovde Group boosted their target price on shares of Princeton Bancorp from $35.00 to $37.50 and gave the stock a “market perform” rating in a research report on Tuesday, February 3rd. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

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.