Princeton Bancorp (NASDAQ:BPRN) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Princeton Bancorp (NASDAQ:BPRN) from a hold rating to a sell rating in a research report report published on Saturday.

Princeton Bancorp Stock Up 3.6%

BPRN stock opened at $30.50 on Friday. Princeton Bancorp has a twelve month low of $27.25 and a twelve month high of $39.35. The company has a market cap of $211.37 million, a PE ratio of 17.23 and a beta of 0.64. The business’s 50-day simple moving average is $30.37 and its 200 day simple moving average is $31.62.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $20.95 million during the quarter, compared to analyst estimates of $20.73 million. On average, equities research analysts anticipate that Princeton Bancorp will post 3.35 EPS for the current year.

Princeton Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Tuesday, May 6th were paid a $0.30 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $1.20 annualized dividend and a dividend yield of 3.93%. Princeton Bancorp’s dividend payout ratio is currently 67.80%.

Insider Activity

In related news, Director Martin Tuchman acquired 2,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $31.28 per share, for a total transaction of $62,560.00. Following the purchase, the director now owns 108,582 shares in the company, valued at approximately $3,396,444.96. This trade represents a 1.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Adkins sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $31.37, for a total value of $31,370.00. Following the completion of the sale, the insider now owns 10,794 shares in the company, valued at approximately $338,607.78. This represents a 8.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 9,079 shares of company stock worth $279,450 and have sold 1,933 shares worth $61,541. Corporate insiders own 21.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $103,000 after acquiring an additional 431 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Princeton Bancorp by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,573 shares of the company’s stock worth $445,000 after acquiring an additional 500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Princeton Bancorp by 6.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,950 shares of the company’s stock worth $377,000 after acquiring an additional 633 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Princeton Bancorp by 38.6% in the 4th quarter. Wells Fargo & Company MN now owns 3,222 shares of the company’s stock worth $111,000 after acquiring an additional 898 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Princeton Bancorp by 565.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,071 shares of the company’s stock worth $37,000 after acquiring an additional 910 shares in the last quarter. 43.36% of the stock is owned by institutional investors and hedge funds.

About Princeton Bancorp

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.