Key Points
- Director Martin Tuchman purchased 5,000 shares on Nov. 12 at an average price of $33 (about $165,000), bringing his total holdings to 7,548 shares — a 196.23% increase in his position, according to the SEC filing.
- Princeton Bancorp raised its quarterly dividend to $0.35 (annualized $1.40), yielding roughly 4.2%, up from the prior $0.30 payment.
- The company beat recent estimates, reporting $0.95 EPS vs. $0.89 expected and $21.53M revenue vs. $20.33M, while analysts have an average "Buy" rating and a $37.50 consensus target.
Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) insider Matthew Clark sold 1,500 shares of Princeton Bancorp stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $32.62, for a total value of $48,930.00. Following the sale, the insider directly owned 81 shares in the company, valued at approximately $2,642.22. The trade was a 94.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Princeton Bancorp Stock Down 0.2%
Shares of NASDAQ:BPRN traded down $0.06 during trading on Friday, hitting $33.41. The stock had a trading volume of 1,494 shares, compared to its average volume of 9,738. The company has a market capitalization of $225.85 million, a PE ratio of 13.00 and a beta of 0.65. The firm's fifty day moving average is $31.72 and its 200 day moving average is $31.59. Princeton Bancorp, Inc. has a 12 month low of $27.25 and a 12 month high of $38.78.
Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last announced its earnings results on Wednesday, October 29th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.06. The business had revenue of $21.53 million for the quarter, compared to the consensus estimate of $20.33 million. Equities research analysts expect that Princeton Bancorp, Inc. will post 3.35 EPS for the current fiscal year.
Princeton Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, November 7th. This is a positive change from Princeton Bancorp's previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 4.2%. Princeton Bancorp's dividend payout ratio (DPR) is 54.47%.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Janney Montgomery Scott upgraded Princeton Bancorp to a "strong-buy" rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Princeton Bancorp in a report on Wednesday, October 8th. Finally, Zacks Research raised Princeton Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Princeton Bancorp presently has an average rating of "Buy" and a consensus price target of $37.50.
Check Out Our Latest Stock Report on Princeton Bancorp
Institutional Investors Weigh In On Princeton Bancorp
A number of institutional investors and hedge funds have recently modified their holdings of BPRN. Dimensional Fund Advisors LP raised its holdings in shares of Princeton Bancorp by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 144,827 shares of the company's stock valued at $4,611,000 after acquiring an additional 2,505 shares in the last quarter. Royce & Associates LP increased its position in shares of Princeton Bancorp by 14.3% in the third quarter. Royce & Associates LP now owns 80,366 shares of the company's stock valued at $2,559,000 after buying an additional 10,032 shares in the last quarter. Princeton Capital Management LLC purchased a new stake in shares of Princeton Bancorp during the third quarter worth $249,000. GSA Capital Partners LLP purchased a new stake in shares of Princeton Bancorp in the 3rd quarter valued at approximately $232,000. Finally, JPMorgan Chase & Co. increased its position in shares of Princeton Bancorp by 14.9% during the third 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 last quarter. 43.36% of the stock is owned by institutional investors.
Princeton Bancorp Company Profile
(
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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