Princeton Bancorp (NASDAQ:BPRN) Director Stephen Distler Sells 8,776 Shares

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Stephen Distler sold 8,776 shares of Princeton Bancorp stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $41.48, for a total transaction of $364,028.48. Following the completion of the transaction, the director owned 83,220 shares of the company’s stock, valued at $3,451,965.60. This trade represents a 9.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Princeton Bancorp Stock Performance

Shares of BPRN stock opened at $42.40 on Tuesday. The stock’s fifty day moving average is $37.88 and its 200-day moving average is $36.09. Princeton Bancorp, Inc. has a 52 week low of $29.69 and a 52 week high of $43.93. The stock has a market capitalization of $288.74 million, a PE ratio of 11.16 and a beta of 0.47.

Princeton Bancorp (NASDAQ:BPRN) last issued 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 net margin of 18.99% and a return on equity of 9.57%. The business had revenue of $22.48 million for the quarter, compared to the consensus estimate of $21.84 million. As a group, analysts forecast 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. Investors 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 yield of 3.3%. The ex-dividend date is Wednesday, August 5th. Princeton Bancorp’s dividend payout ratio (DPR) is presently 36.84%.

Institutional Trading of Princeton Bancorp

A number of large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Princeton Bancorp by 14.7% in the first 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. Empowered Funds LLC grew its position in shares of Princeton Bancorp by 3.6% in the 1st 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. Geode Capital Management LLC increased its stake in Princeton Bancorp by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock worth $3,890,000 after purchasing an additional 1,542 shares in the last quarter. Alliancebernstein L.P. increased its stake in Princeton Bancorp by 2.4% during the 2nd quarter. Alliancebernstein L.P. now owns 555,927 shares of the company’s stock worth $16,978,000 after purchasing an additional 13,280 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Princeton Bancorp during the 2nd quarter worth approximately $61,000. Institutional investors own 43.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Princeton Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings raised 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 assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

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.