Lynch Asset Management Inc. acquired a new stake in Princeton Bancorp, Inc. (NASDAQ:BPRN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 16,946 shares of the company's stock, valued at approximately $518,000. Lynch Asset Management Inc. owned 0.25% of Princeton Bancorp as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in BPRN. Empowered Funds LLC lifted its stake in Princeton Bancorp by 1.9% during the fourth quarter. Empowered Funds LLC now owns 32,772 shares of the company's stock worth $1,128,000 after purchasing an additional 600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Princeton Bancorp by 6.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,950 shares of the company's stock valued at $377,000 after buying an additional 633 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Princeton Bancorp by 38.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,222 shares of the company's stock valued at $111,000 after buying an additional 898 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Princeton Bancorp by 565.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,071 shares of the company's stock valued at $37,000 after buying an additional 910 shares during the last quarter. Finally, Barclays PLC lifted its stake in Princeton Bancorp by 25.1% in the fourth quarter. Barclays PLC now owns 8,258 shares of the company's stock valued at $284,000 after buying an additional 1,659 shares during the last quarter. Hedge funds and other institutional investors own 43.36% of the company's stock.
Princeton Bancorp Stock Performance
NASDAQ BPRN traded down $0.21 on Friday, reaching $29.88. The stock had a trading volume of 15,127 shares, compared to its average volume of 10,212. Princeton Bancorp, Inc. has a 12-month low of $27.25 and a 12-month high of $39.35. The business's 50-day moving average price is $30.15 and its 200 day moving average price is $32.09. The stock has a market cap of $207.04 million, a P/E ratio of 17.79 and a beta of 0.64.
Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.01. The firm had revenue of $20.95 million during the quarter, compared to analysts' expectations of $20.73 million. On average, sell-side analysts predict that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current year.
Princeton Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Tuesday, May 6th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Tuesday, May 6th. Princeton Bancorp's payout ratio is currently 67.80%.
Insider Activity
In related news, Director Martin Tuchman bought 1,019 shares of the company's stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $32.00 per share, with a total value of $32,608.00. Following the completion of the acquisition, the director now owns 111,788 shares in the company, valued at approximately $3,577,216. This trade represents a 0.92% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephanie Adkins sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $31.37, for a total value of $31,370.00. Following the completion of the transaction, the insider now directly owns 10,794 shares in the company, valued at approximately $338,607.78. The trade was a 8.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 9,079 shares of company stock valued at $279,450 and have sold 1,933 shares valued at $61,541. Corporate insiders own 23.00% of the company's stock.
Princeton Bancorp Company Profile
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Free Report)
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.
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