Empowered Funds LLC Invests $1.28 Million in Princeton Bancorp, Inc. $BPRN

Empowered Funds LLC acquired a new stake in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 33,610 shares of the company’s stock, valued at approximately $1,276,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in shares of Princeton Bancorp during the 1st quarter worth approximately $30,000. Raymond James Financial Inc. purchased a new stake in Princeton Bancorp in the 2nd quarter worth about $61,000. Tower Research Capital LLC TRC boosted its stake in shares of Princeton Bancorp by 584.7% during the second 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Princeton Bancorp by 14.7% in the 1st 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. Finally, Deutsche Bank AG purchased a new stake in shares of Princeton Bancorp in the 2nd quarter worth $189,000. Institutional investors own 43.36% of the company’s stock.

Princeton Bancorp Price Performance

Shares of NASDAQ BPRN opened at $43.53 on Friday. The firm’s 50 day simple moving average is $40.78 and its 200-day simple moving average is $37.12. Princeton Bancorp, Inc. has a 12 month low of $29.69 and a 12 month high of $44.01. The stock has a market capitalization of $296.57 million, a price-to-earnings ratio of 11.46 and a beta of 0.47.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.16. Princeton Bancorp had a net margin of 18.99% and a return on equity of 9.48%. The firm had revenue of $22.48 million for the quarter, compared to the consensus estimate of $21.84 million. Analysts anticipate that Princeton Bancorp, Inc. will post 3.88 earnings per share for the current fiscal year.

Princeton Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Wednesday, August 5th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.40 dividend on an annualized basis and a yield of 3.2%. Princeton Bancorp’s dividend payout ratio is presently 36.84%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. 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.com, Princeton Bancorp has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Insiders Place Their Bets

In other Princeton Bancorp news, Director Martin Tuchman purchased 10,534 shares of the stock in a transaction on Wednesday, August 12th. The shares were bought at an average price of $42.98 per share, for a total transaction of $452,751.32. Following the completion of the transaction, the director owned 24,138 shares of the company’s stock, valued at $1,037,451.24. This trade represents a 77.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Matthew Clark sold 1,428 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.95, for a total value of $59,904.60. Following the completion of the sale, the insider directly owned 1,428 shares in the company, valued at approximately $59,904.60. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 11,804 shares of company stock worth $479,997. 23.10% of the stock is owned by company insiders.

Princeton Bancorp 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.