Princeton Bancorp (NASDAQ:BPRN) Price Target Raised to $37.50

Princeton Bancorp (NASDAQ:BPRN) had its price objective hoisted by Hovde Group from $35.00 to $37.50 in a research note released on Tuesday, Marketbeat Ratings reports. Hovde Group currently has a market perform rating on the stock.

Several other brokerages have also recently commented on BPRN. Janney Montgomery Scott upgraded shares of Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Zacks Research downgraded Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings upgraded Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Princeton Bancorp presently has an average rating of “Moderate Buy” and an average target price of $37.50.

Princeton Bancorp Trading Down 2.1%

Princeton Bancorp stock opened at $36.13 on Tuesday. The company has a market cap of $244.24 million, a PE ratio of 13.28 and a beta of 0.53. Princeton Bancorp has a 1 year low of $27.25 and a 1 year high of $37.99. The company’s 50-day moving average is $35.56 and its two-hundred day moving average is $33.30.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.04). The firm had revenue of $20.75 million for the quarter, compared to the consensus estimate of $21.03 million. Research analysts forecast that Princeton Bancorp will post 3.35 EPS for the current year.

Princeton Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Wednesday, February 4th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, February 4th. Princeton Bancorp’s payout ratio is 51.47%.

Insider Activity at Princeton Bancorp

In related news, Director Martin Tuchman purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were purchased at an average price of $33.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the director owned 7,548 shares in the company, valued at $249,084. This represents a 196.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew T. Clark sold 1,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $32.62, for a total transaction of $48,930.00. Following the sale, the insider directly owned 81 shares of the company’s stock, valued at $2,642.22. This represents a 94.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 8,108 shares of company stock valued at $265,372 over the last quarter. 23.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Princeton Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Princeton Bancorp by 24.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,688 shares of the company’s stock valued at $479,000 after purchasing an additional 3,044 shares in the last quarter. Roundview Capital LLC grew its holdings in shares of Princeton Bancorp by 14.9% during the second quarter. Roundview Capital LLC now owns 61,792 shares of the company’s stock worth $1,887,000 after buying an additional 8,000 shares in the last quarter. SilverOak Wealth Management LLC acquired a new stake in Princeton Bancorp in the 2nd quarter valued at approximately $232,000. Farther Finance Advisors LLC bought a new stake in Princeton Bancorp in the 4th quarter valued at approximately $282,000. Finally, JPMorgan Chase & Co. boosted its position in Princeton Bancorp by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock worth $219,000 after acquiring an additional 892 shares during the last quarter. 43.36% of the stock is owned by institutional investors and hedge funds.

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.