Princeton Bancorp (NASDAQ:BPRN) Director Martin Tuchman Buys 10,534 Shares of Stock

Key Points

  • Director Martin Tuchman bought 10,534 Princeton Bancorp shares at an average price of $42.98, investing approximately $452,751 and increasing his ownership by 77.43% to 24,138 shares.
  • Princeton Bancorp reported quarterly EPS of $1.04, exceeding estimates of $0.88, while revenue of $22.48 million also topped expectations. The stock traded near its 12-month high at $43.47.
  • The company declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 3.2% yield; analysts maintain a “Moderate Buy” consensus with a $37.50 average price target.

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) Director Martin Tuchman purchased 10,534 shares of the stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $42.98 per share, with a total value of $452,751.32. Following the completion of the transaction, the director owned 24,138 shares of the company's stock, valued at approximately $1,037,451.24. This trade represents a 77.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Princeton Bancorp Trading Up 0.1%

BPRN opened at $43.47 on Friday. The firm has a market cap of $296.16 million, a price-to-earnings ratio of 11.44 and a beta of 0.47. The stock's 50-day moving average price is $39.16 and its 200 day moving average price is $36.48. Princeton Bancorp, Inc. has a 12-month low of $29.69 and a 12-month high of $43.93.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.16. The company had revenue of $22.48 million for the quarter, compared to the consensus estimate of $21.84 million. Princeton Bancorp had a net margin of 18.99% and a return on equity of 9.48%. On average, research analysts forecast that Princeton Bancorp, Inc. will post 3.88 earnings per share for the current year.

Princeton Bancorp Dividend Announcement




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 issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 5th. Princeton Bancorp's payout ratio is 36.84%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Princeton Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.50.

Read Our Latest Stock Report on BPRN

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 buying an additional 431 shares during the last quarter. Geode Capital Management LLC lifted its position in Princeton Bancorp by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 127,621 shares of the company's stock valued at $4,428,000 after acquiring an additional 659 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Princeton Bancorp in the first quarter valued at $30,000. JPMorgan Chase & Co. boosted its stake in Princeton Bancorp by 14.9% in 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 in the last quarter. Finally, Empowered Funds LLC boosted 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 valued at $1,037,000 after acquiring an additional 1,169 shares in the last quarter. Institutional investors and hedge funds own 43.36% of the company's stock.

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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