Princeton Bancorp (NASDAQ:BPRN) Trading Down 0.3% – Here’s Why

Princeton Bancorp, Inc. (NASDAQ:BPRN)’s stock price traded down 0.3% during trading on Thursday . The company traded as low as $34.47 and last traded at $34.69. 17,268 shares were traded during mid-day trading, an increase of 140% from the average session volume of 7,202 shares. The stock had previously closed at $34.78.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Hovde Group increased their price target on shares of Princeton Bancorp from $35.00 to $37.50 and gave the company a “market perform” rating in a report on Tuesday, February 3rd. Weiss Ratings downgraded shares of Princeton Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. Finally, Zacks Research raised shares of Princeton Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One 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, Princeton Bancorp currently has an average rating of “Moderate Buy” and an average price target of $37.50.

Princeton Bancorp Stock Up 1.6%

The firm has a market cap of $240.09 million, a P/E ratio of 12.33 and a beta of 0.49. The company’s 50 day simple moving average is $34.75 and its 200-day simple moving average is $34.82.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Princeton Bancorp had a net margin of 14.20% and a return on equity of 7.20%. The business had revenue of $21.31 million during the quarter, compared to the consensus estimate of $21.06 million. Equities research analysts predict that Princeton Bancorp, Inc. will post 3.67 EPS for the current year.

Princeton Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Tuesday, May 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $1.40 dividend on an annualized basis and a yield of 4.0%. Princeton Bancorp’s payout ratio is 48.95%.

Hedge Funds Weigh In On Princeton Bancorp

A number of large investors have recently bought and sold shares of BPRN. 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. Empowered Funds LLC raised its stake in Princeton Bancorp by 3.6% in the first quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock worth $1,037,000 after buying an additional 1,169 shares in the last quarter. Geode Capital Management LLC raised its stake in Princeton Bancorp by 1.2% in the second quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock worth $3,890,000 after buying an additional 1,542 shares in the last quarter. Alliancebernstein L.P. raised its stake in Princeton Bancorp by 2.4% in the second quarter. Alliancebernstein L.P. now owns 555,927 shares of the company’s stock worth $16,978,000 after buying an additional 13,280 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Princeton Bancorp in the second quarter worth approximately $61,000. Institutional investors 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.