Princeton Bancorp (NASDAQ:BPRN) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Princeton Bancorp (NASDAQ:BPRN) announced its earnings results on Thursday. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.88 by $0.16, FiscalAI reports. Princeton Bancorp had a return on equity of 7.20% and a net margin of 14.20%.The company had revenue of $22.48 million for the quarter, compared to analyst estimates of $21.84 million.

Princeton Bancorp Price Performance

Shares of BPRN opened at $37.97 on Friday. Princeton Bancorp has a one year low of $29.69 and a one year high of $39.47. The company has a market cap of $258.58 million, a PE ratio of 13.28 and a beta of 0.48. The stock has a 50-day moving average of $36.94 and a 200-day moving average of $35.77.

Princeton Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 5th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $1.40 annualized dividend and a dividend yield of 3.7%. Princeton Bancorp’s dividend payout ratio (DPR) is currently 48.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BPRN shares. Weiss Ratings raised Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Zacks Research raised shares of Princeton Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.50.

Insiders Place Their Bets

In related news, insider Stephanie Adkins sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $35.04, for a total transaction of $56,064.00. Following the transaction, the insider directly owned 21,272 shares of the company’s stock, valued at approximately $745,370.88. This represents a 7.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Princeton Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of BPRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 purchasing an additional 431 shares in the last quarter. Empowered Funds LLC grew its position in Princeton Bancorp by 3.6% in the 1st quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,169 shares during the period. Geode Capital Management LLC increased its stake in Princeton Bancorp by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock valued at $3,890,000 after purchasing an additional 1,542 shares in the last quarter. Alliancebernstein L.P. increased its stake in Princeton Bancorp by 2.4% during the 2nd quarter. Alliancebernstein L.P. now owns 555,927 shares of the company’s stock valued at $16,978,000 after purchasing an additional 13,280 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Princeton Bancorp during the second quarter worth $61,000. Institutional investors own 43.36% of the company’s stock.

About Princeton Bancorp

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.