Key Points
- Director Stephen Distler sold 8,776 Princeton Bancorp shares at an average price of $41.48, generating $364,028.48. His remaining direct ownership fell 9.54% to 83,220 shares.
- Princeton Bancorp reported quarterly earnings of $1.04 per share, beating analyst estimates of $0.88, while revenue of $22.48 million also exceeded expectations.
- The company declared a quarterly dividend of $0.35 per share, equivalent to an annualized $1.40 payout and a 3.3% yield. Shares opened at $42.40, near their 52-week high of $43.93.
Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) Director Stephen Distler sold 8,776 shares of the company's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $41.48, for a total value of $364,028.48. Following the transaction, the director directly owned 83,220 shares of the company's stock, valued at $3,451,965.60. This represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Princeton Bancorp Stock Performance
NASDAQ:BPRN opened at $42.40 on Tuesday. Princeton Bancorp, Inc. has a 52-week low of $29.69 and a 52-week high of $43.93. The stock has a 50-day simple moving average of $37.88 and a 200 day simple moving average of $36.09. The company has a market cap of $288.74 million, a PE ratio of 11.16 and a beta of 0.47.
Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.16. Princeton Bancorp had a net margin of 18.99% and a return on equity of 9.57%. The company had revenue of $22.48 million during the quarter, compared to analysts' expectations of $21.84 million. On average, research analysts predict that Princeton Bancorp, Inc. will post 3.88 earnings per share for the current fiscal year.
Princeton Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $1.40 annualized dividend and a yield of 3.3%. Princeton Bancorp's payout ratio is 36.84%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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. Empowered Funds LLC grew its holdings in Princeton Bancorp by 3.6% during the first quarter. Empowered Funds LLC now owns 33,941 shares of the company's stock worth $1,037,000 after purchasing an additional 1,169 shares during the period. Geode Capital Management LLC increased its position in Princeton Bancorp by 1.2% during 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 during 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 valued at $16,978,000 after buying an additional 13,280 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Princeton Bancorp in the second quarter valued at approximately $61,000. 43.36% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently weighed in on BPRN. Weiss Ratings upgraded Princeton Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 12th. Zacks Research raised Princeton Bancorp from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $37.50.
Get Our Latest Stock Report on BPRN
Princeton Bancorp Company Profile
(
Get Free Report)
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.
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