Princeton Bancorp (NASDAQ:BPRN) Posts Earnings Results, Misses Estimates By $0.04 EPS

Princeton Bancorp (NASDAQ:BPRN) posted its earnings results on Tuesday. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04), FiscalAI reports. The company had revenue of $20.75 million for the quarter, compared to analyst estimates of $21.03 million.

Princeton Bancorp Price Performance

Shares of Princeton Bancorp stock traded up $0.61 on Thursday, hitting $36.88. The company had a trading volume of 8,205 shares, compared to its average volume of 15,068. The firm has a market capitalization of $249.31 million, a P/E ratio of 14.35 and a beta of 0.53. Princeton Bancorp has a twelve month low of $27.25 and a twelve month high of $37.99. The stock has a 50-day moving average of $35.16 and a 200-day moving average of $33.11.

Princeton Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Wednesday, February 4th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.40 dividend on an annualized basis and a yield of 3.8%. Princeton Bancorp’s payout ratio is presently 54.47%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Janney Montgomery Scott upgraded shares of Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research cut Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $35.00.

Insider Buying and Selling at Princeton Bancorp

In other news, Director Susan Barrett acquired 1,600 shares of Princeton Bancorp stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $31.50 per share, with a total value of $50,400.00. Following the completion of the transaction, the director directly owned 4,542 shares of the company’s stock, valued at approximately $143,073. This represents a 54.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Tuchman acquired 2,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was acquired at an average price of $32.30 per share, for a total transaction of $64,600.00. Following the completion of the acquisition, the director directly owned 13,604 shares of the company’s stock, valued at $439,409.20. The trade was a 17.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 12,204 shares of company stock valued at $396,639 in the last 90 days. 21.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Princeton Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Princeton Bancorp by 14.7% during 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 during the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 during the period. Empowered Funds LLC grew its stake in shares of 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. Geode Capital Management LLC increased its position in Princeton Bancorp by 1.2% during the second quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock worth $3,890,000 after acquiring an additional 1,542 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Princeton Bancorp by 584.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock valued at $67,000 after purchasing an additional 1,871 shares during the period. 43.36% of the stock is owned by institutional investors.

Princeton Bancorp Company Profile

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.