Princeton Bancorp (NASDAQ:BPRN) Director Martin Tuchman Acquires 10,534 Shares

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman bought 10,534 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average price of $42.98 per share, for a total transaction of $452,751.32. Following the completion of the purchase, the director owned 24,138 shares in the company, valued at $1,037,451.24. The trade was a 77.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Princeton Bancorp Stock Performance

Shares of NASDAQ BPRN opened at $43.47 on Friday. Princeton Bancorp, Inc. has a fifty-two week low of $29.69 and a fifty-two week high of $43.93. The company has a market cap of $296.16 million, a PE ratio of 11.44 and a beta of 0.47. The business has a 50-day simple moving average of $39.16 and a two-hundred day simple moving average of $36.48.

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

Princeton Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 5th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, August 5th. Princeton Bancorp’s payout ratio is presently 36.84%.

Hedge Funds Weigh In On Princeton Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of BPRN. Hsbc Holdings PLC purchased a new stake in shares of Princeton Bancorp in the 2nd quarter valued at $282,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Princeton Bancorp during the second quarter worth about $521,000. BlackRock Inc. acquired a new position in Princeton Bancorp in the second quarter valued at approximately $16,230,000. Deutsche Bank AG acquired a new stake in shares of Princeton Bancorp during the 2nd quarter worth about $189,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Princeton Bancorp in the 2nd quarter valued at approximately $1,198,000. Institutional investors and hedge funds own 43.36% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Princeton Bancorp has a consensus rating of “Moderate Buy” and a consensus 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.