Key Points
- Director Martin Tuchman bought 493 shares of Princeton Bancorp on Nov. 7 at an average price of $33, bringing his direct holdings to 2,496 shares (a 24.6% increase) after earlier purchases of 3, 2,000 and 10,000 shares this fall, signaling sizable insider accumulation.
- Princeton Bancorp raised its quarterly dividend to $0.35 (annualized $1.40) for a 4.2% yield, with an ex-dividend date and shareholder record date on Nov. 7 and payment on Nov. 26.
- The company beat Q3 estimates with EPS of $0.95 (vs. $0.89 expected) and revenue of $21.53M, while the stock trades near $33.19 with a P/E of 12.91, $224M market cap, and an average analyst rating of "Buy" (avg. target $37.50).
Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) Director Martin Tuchman bought 493 shares of the company's stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $33.00 per share, with a total value of $16,269.00. Following the acquisition, the director directly owned 2,496 shares of the company's stock, valued at approximately $82,368. The trade was a 24.61% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Martin Tuchman also recently made the following trade(s):
- On Wednesday, November 5th, Martin Tuchman purchased 3 shares of Princeton Bancorp stock. The shares were bought at an average price of $32.60 per share, with a total value of $97.80.
- On Tuesday, November 4th, Martin Tuchman acquired 2,000 shares of Princeton Bancorp stock. The shares were purchased at an average cost of $32.25 per share, for a total transaction of $64,500.00.
- On Monday, September 8th, Martin Tuchman bought 10,000 shares of Princeton Bancorp stock. The stock was purchased at an average price of $33.00 per share, with a total value of $330,000.00.
Princeton Bancorp Trading Up 0.8%
NASDAQ:BPRN traded up $0.26 during trading hours on Thursday, hitting $33.19. 2,174 shares of the company were exchanged, compared to its average volume of 9,751. The stock has a market capitalization of $224.36 million, a price-to-earnings ratio of 12.91 and a beta of 0.65. Princeton Bancorp, Inc. has a one year low of $27.25 and a one year high of $38.78. The company has a fifty day simple moving average of $31.71 and a 200 day simple moving average of $31.58.
Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $21.53 million during the quarter, compared to analyst estimates of $20.33 million. Equities research analysts predict that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.
Princeton Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, November 7th. This is a positive change from Princeton Bancorp's previous quarterly dividend of $0.30. Princeton Bancorp's dividend payout ratio (DPR) is 54.47%.
Hedge Funds Weigh In On Princeton Bancorp
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Princeton Bancorp in the second quarter worth approximately $38,000. Raymond James Financial Inc. purchased a new stake in shares of Princeton Bancorp in the 2nd quarter valued at $61,000. Tower Research Capital LLC TRC lifted its stake in Princeton Bancorp by 584.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company's stock worth $67,000 after purchasing an additional 1,871 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 buying an additional 431 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Princeton Bancorp by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company's stock valued at $219,000 after acquiring an additional 892 shares during the period. 43.36% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on BPRN shares. Zacks Research raised shares of Princeton Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Princeton Bancorp in a research note on Wednesday, October 8th. Finally, Janney Montgomery Scott upgraded shares of Princeton Bancorp to a "strong-buy" rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $37.50.
Read Our Latest Report on Princeton Bancorp
About Princeton Bancorp
(
Get Free Report)
Princeton Bancorp, Inc operates as the bank holding company for The Bank of Princeton that provides various banking products and services. It accepts various deposit products, including checking, savings, attorney trust, and money market accounts, as well as certificates of deposit. The company also offers traditional retail banking services, one-to-four-family residential mortgage loans, multi-family and commercial mortgage loans, construction loans, and commercial business loans, as well as consumer loans, including home equity loans and lines of credit.
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