Key Points
- Insider sale: Matthew Clark sold 1,428 Princeton Bancorp shares for approximately $59,905, reducing his direct ownership by 50% to 1,428 shares.
- Quarterly performance: Princeton Bancorp reported $1.04 in quarterly EPS, exceeding estimates of $0.88, while revenue of $22.48 million also topped expectations.
- Dividend and sentiment: The company declared a quarterly dividend of $0.35, representing a 3.3% annualized yield. Analysts collectively rate the stock “Moderate Buy,” although their average price target of $37.50 is below the reported share price.
Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) insider Matthew Clark sold 1,428 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $41.95, for a total transaction of $59,904.60. Following the transaction, the insider directly owned 1,428 shares in the company, valued at $59,904.60. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Princeton Bancorp Price Performance
Shares of Princeton Bancorp stock opened at $42.20 on Tuesday. Princeton Bancorp, Inc. has a one year low of $29.69 and a one year high of $43.93. The firm has a market capitalization of $287.38 million, a price-to-earnings ratio of 11.11 and a beta of 0.47. The business has a 50-day simple moving average of $38.50 and a 200 day simple moving average of $36.30.
Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.16. Princeton Bancorp had a return on equity of 9.57% and a net margin of 18.99%.The business had revenue of $22.48 million for the quarter, compared to analyst estimates of $21.84 million. On average, sell-side analysts expect that Princeton Bancorp, Inc. will post 3.88 EPS for the current year.
Princeton Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Wednesday, August 5th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 5th. Princeton Bancorp's dividend payout ratio (DPR) is currently 36.84%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of Princeton Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, June 12th. 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 data from MarketBeat, Princeton Bancorp has a consensus rating of "Moderate Buy" and an average price target of $37.50.
Read Our Latest Report on BPRN
Institutional Trading of Princeton Bancorp
A number of institutional investors and hedge funds have recently modified their holdings of BPRN. BlackRock Inc. bought a new stake in shares of Princeton Bancorp during the 2nd quarter worth $16,230,000. Bank of New York Mellon Corp bought a new position in Princeton Bancorp during the second quarter valued at about $1,198,000. Alliancebernstein L.P. grew its position in Princeton Bancorp by 2.4% during 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. Dimensional Fund Advisors LP increased its holdings in Princeton Bancorp by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 160,383 shares of the company's stock worth $5,416,000 after buying an additional 11,235 shares during the last quarter. Finally, Fourthstone LLC increased its holdings in Princeton Bancorp by 36.8% during the fourth quarter. Fourthstone LLC now owns 37,789 shares of the company's stock worth $1,311,000 after buying an additional 10,172 shares during the last quarter. 43.36% of the stock is owned by hedge funds and other institutional investors.
About Princeton Bancorp
(
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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