Banc Funds Co. LLC Decreases Stake in Princeton Bancorp, Inc. (NASDAQ:BPRN)

Banc Funds Co. LLC reduced its stake in Princeton Bancorp, Inc. (NASDAQ:BPRN - Free Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,428 shares of the company's stock after selling 26,288 shares during the quarter. Banc Funds Co. LLC owned about 4.59% of Princeton Bancorp worth $10,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in Princeton Bancorp by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 116,891 shares of the company's stock valued at $4,025,000 after acquiring an additional 3,890 shares during the last quarter. State Street Corp raised its holdings in shares of Princeton Bancorp by 1.0% during the 3rd quarter. State Street Corp now owns 70,670 shares of the company's stock valued at $2,613,000 after buying an additional 733 shares in the last quarter. Renaissance Technologies LLC lifted its position in Princeton Bancorp by 10.4% in the 4th quarter. Renaissance Technologies LLC now owns 53,688 shares of the company's stock worth $1,848,000 after buying an additional 5,065 shares during the last quarter. Empowered Funds LLC grew its position in Princeton Bancorp by 1.9% during the fourth quarter. Empowered Funds LLC now owns 32,772 shares of the company's stock valued at $1,128,000 after acquiring an additional 600 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Princeton Bancorp by 63.7% during the fourth quarter. JPMorgan Chase & Co. now owns 23,847 shares of the company's stock worth $821,000 after acquiring an additional 9,279 shares in the last quarter. Hedge funds and other institutional investors own 43.36% of the company's stock.

Insider Activity

In other Princeton Bancorp news, Director Martin Tuchman purchased 22,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average cost of $32.71 per share, for a total transaction of $719,620.00. Following the purchase, the director now directly owns 629,141 shares in the company, valued at $20,579,202.11. The trade was a 3.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott upgraded shares of Princeton Bancorp from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Tuesday, February 4th.

Princeton Bancorp Trading Up 3.5 %

NASDAQ BPRN traded up $0.99 during trading on Tuesday, hitting $29.44. The company had a trading volume of 1,116 shares, compared to its average volume of 9,543. The company's fifty day moving average is $30.41 and its 200-day moving average is $33.67. Princeton Bancorp, Inc. has a one year low of $27.25 and a one year high of $39.35. The company has a market cap of $203.58 million, a price-to-earnings ratio of 17.52 and a beta of 0.48.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.11). As a group, equities analysts anticipate that Princeton Bancorp, Inc. will post 3.35 EPS for the current year.

Princeton Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.08%. The ex-dividend date was Wednesday, February 5th. Princeton Bancorp's dividend payout ratio is currently 71.43%.

About Princeton Bancorp

Princeton Bancorp, Inc operates as the bank holding company for The Bank of Princeton that provides various banking products and services. It accepts various deposit products, including checking, savings, attorney trust, and money market accounts, as well as certificates of deposit. The company also offers traditional retail banking services, one-to-four-family residential mortgage loans, multi-family and commercial mortgage loans, construction loans, and commercial business loans, as well as consumer loans, including home equity loans and lines of credit.