Insider Buying: Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Purchases $30,000.00 in Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman purchased 1,000 shares of the company’s stock in a transaction on Monday, April 28th. The stock was bought at an average price of $30.00 per share, for a total transaction of $30,000.00. Following the completion of the purchase, the director now directly owns 102,109 shares of the company’s stock, valued at $3,063,270. The trade was a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Martin Tuchman also recently made the following trade(s):

• On Wednesday, April 30th, Martin Tuchman bought 1,000 shares of Princeton Bancorp stock. The stock was bought at an average price of $30.43 per share, with a total value of $30,430.00.
• On Tuesday, February 11th, Martin Tuchman purchased 22,000 shares of Princeton Bancorp stock. The stock was bought at an average cost of $32.71 per share, with a total value of $719,620.00.

Princeton Bancorp Price Performance

Shares of Princeton Bancorp stock opened at $31.17 on Friday. The firm’s fifty day simple moving average is $29.98 and its 200-day simple moving average is $33.25. Princeton Bancorp, Inc. has a 12 month low of $27.25 and a 12 month high of $39.35. The stock has a market capitalization of $215.54 million, a price-to-earnings ratio of 18.55 and a beta of 0.48.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.77 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. Analysts anticipate that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current year.

Princeton Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, May 6th. Princeton Bancorp’s dividend payout ratio is presently 67.80%.

Analyst Ratings Changes

Separately, Janney Montgomery Scott upgraded Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, February 4th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in shares of Princeton Bancorp by 565.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,071 shares of the company’s stock worth $37,000 after purchasing an additional 910 shares during the last quarter. Wells Fargo & Company MN increased its stake in Princeton Bancorp by 38.6% in the 4th quarter. Wells Fargo & Company MN now owns 3,222 shares of the company’s stock valued at $111,000 after buying an additional 898 shares during the period. Bank of America Corp DE raised its position in Princeton Bancorp by 49.2% during the 4th quarter. Bank of America Corp DE now owns 5,509 shares of the company’s stock worth $190,000 after buying an additional 1,816 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Princeton Bancorp in the 4th quarter worth $216,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Princeton Bancorp during the third quarter worth about $222,000. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

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.