Princeton Bancorp (NASDAQ:BPRN) Director Acquires $452,751.32 in Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman purchased 10,534 shares of Princeton Bancorp stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $42.98 per share, with a total value of $452,751.32. Following the completion of the acquisition, the director directly owned 24,138 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Princeton Bancorp Price Performance

Shares of BPRN stock opened at $43.47 on Monday. The business’s fifty day moving average price is $39.16 and its 200 day moving average price is $36.48. Princeton Bancorp, Inc. has a 1-year low of $29.69 and a 1-year high of $43.93. The firm has a market capitalization of $296.03 million, a PE ratio of 11.44 and a beta of 0.47.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings data 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. The firm had revenue of $22.48 million during the quarter, compared to analysts’ expectations of $21.84 million. Princeton Bancorp had a return on equity of 9.48% and a net margin of 18.99%. Equities research analysts expect that Princeton Bancorp, Inc. will post 3.88 earnings per share for the current fiscal year.

Princeton Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 5th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 5th. Princeton Bancorp’s payout ratio is currently 36.84%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 12th. 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.50.

Hedge Funds Weigh In On Princeton Bancorp

A number of hedge funds have recently made changes to their positions in BPRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Princeton Bancorp by 14.7% during 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 period. Geode Capital Management LLC boosted its holdings in Princeton Bancorp by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 127,621 shares of the company’s stock worth $4,428,000 after acquiring an additional 659 shares during the period. NewEdge Advisors LLC acquired a new stake in Princeton Bancorp in the first quarter valued at approximately $30,000. JPMorgan Chase & Co. grew its position 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 raised its stake in shares of Princeton Bancorp by 3.6% during the first quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,169 shares during the period. Institutional investors and hedge funds own 43.36% of the company’s stock.

About Princeton Bancorp

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.