Princeton Bancorp (NASDAQ:BPRN) Issues Earnings Results, Beats Expectations By $0.06 EPS

Princeton Bancorp (NASDAQ:BPRN) posted its quarterly earnings results on Thursday. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06, Zacks reports. Princeton Bancorp had a return on equity of 6.93% and a net margin of 13.39%.The business had revenue of $21.31 million for the quarter, compared to analysts’ expectations of $21.06 million.

Princeton Bancorp Price Performance

BPRN stock opened at $35.23 on Friday. The stock has a market capitalization of $239.21 million, a price-to-earnings ratio of 12.95 and a beta of 0.49. The business’s fifty day moving average price is $34.54 and its two-hundred day moving average price is $34.21. Princeton Bancorp has a fifty-two week low of $28.01 and a fifty-two week high of $37.99.

Princeton Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 5th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, May 5th. This represents a $1.40 annualized dividend and a yield of 4.0%. Princeton Bancorp’s dividend payout ratio (DPR) is presently 51.47%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BPRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 worth $103,000 after buying an additional 431 shares during the period. Empowered Funds LLC increased its position in Princeton Bancorp by 3.6% during the 1st quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock worth $1,037,000 after buying an additional 1,169 shares during the period. Geode Capital Management LLC increased its position 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 buying an additional 1,542 shares during the period. Alliancebernstein L.P. increased its position 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 buying an additional 13,280 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Princeton Bancorp during the 2nd quarter worth $61,000. Institutional investors own 43.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BPRN. Zacks Research upgraded Princeton Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings upgraded Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Finally, Hovde Group increased their price target on Princeton Bancorp from $35.00 to $37.50 and gave the company a “market perform” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Princeton Bancorp has an average rating of “Moderate Buy” and an average target price of $37.50.

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.