Princeton Bancorp (NASDAQ:BPRN) Releases Earnings Results, Misses Estimates By $0.83 EPS

Key Points

• Princeton Bancorp reported quarterly EPS of $0.15, missing the $0.98 consensus estimate by $0.83. Revenue of $22.47 million slightly exceeded expectations of $22.35 million.
• BPRN shares fell 0.4% to $44.63 following the results. The stock has a market capitalization of approximately $304 million and has traded between $30.38 and $46.33 over the past year.
• Analysts maintain an overall “Hold” rating, with an average price target of $37.50, while insiders recently sold shares; corporate insiders own 23.1% of the company.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.83), FiscalAI reports. The firm had revenue of $22.47 million during the quarter, compared to the consensus estimate of $22.35 million. Princeton Bancorp had a return on equity of 9.48% and a net margin of 18.99%.

Princeton Bancorp Stock Down 0.4%

BPRN stock traded down $0.20 during midday trading on Wednesday, hitting $44.63. The company's stock had a trading volume of 21,566 shares, compared to its average volume of 18,783. The firm has a market capitalization of $303.93 million, a price-to-earnings ratio of 11.74 and a beta of 0.47. Princeton Bancorp has a 12 month low of $30.38 and a 12 month high of $46.33. The company has a 50 day moving average of $43.27 and a two-hundred day moving average of $38.19.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Princeton Bancorp in a research report on Wednesday, September 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $37.50.

Insider Activity

In other Princeton Bancorp news, insider Matthew T. Clark sold 1,428 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $41.95, for a total transaction of $59,904.60. Following the transaction, the insider directly owned 1,428 shares in the company, valued at $59,904.60. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Distler sold 8,776 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $41.48, for a total value of $364,028.48. Following the completion of the transaction, the director directly owned 83,220 shares of the company's stock, valued at approximately $3,451,965.60. The trade was a 9.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 23.10% of the company's stock.

Princeton Bancorp Company Profile

Princeton Bancorp, Inc is a bank holding company headquartered in Princeton, New Jersey. Its principal subsidiary, The Bank of Princeton, provides banking services to individuals, businesses and organizations through its community banking franchise.

The Bank of Princeton offers deposit products, residential and commercial real estate loans, commercial and industrial financing, construction lending, consumer loans and other traditional banking services. It also provides online and mobile banking tools, treasury management and related services designed to support business and personal financial needs.

Founded in 2007, The Bank of Princeton serves communities in central New Jersey and the greater Philadelphia region, including southern New Jersey and nearby Pennsylvania markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.