Basswood Capital Management L.L.C. Takes $3.70 Million Position in Princeton Bancorp, Inc. $BPRN

Basswood Capital Management L.L.C. purchased a new position in Princeton Bancorp, Inc. (NASDAQ:BPRN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 97,529 shares of the company's stock, valued at approximately $3,701,000. Basswood Capital Management L.L.C. owned approximately 1.43% of Princeton Bancorp at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Princeton Bancorp by 14.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company's stock worth $103,000 after buying an additional 431 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Princeton Bancorp by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 127,621 shares of the company's stock valued at $4,428,000 after buying an additional 659 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Princeton Bancorp during the first quarter valued at approximately $30,000. JPMorgan Chase & Co. grew its holdings in shares of Princeton Bancorp by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company's stock valued at $219,000 after buying an additional 892 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Princeton Bancorp by 3.6% during the first quarter. Empowered Funds LLC now owns 33,941 shares of the company's stock valued at $1,037,000 after acquiring an additional 1,169 shares in the last quarter. Institutional investors own 43.36% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Princeton Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 12th. 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.50.

Insider Activity at Princeton Bancorp

In related news, insider Stephanie Adkins sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $35.04, for a total value of $56,064.00. Following the sale, the insider owned 21,272 shares in the company, valued at approximately $745,370.88. This trade represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen Distler sold 8,776 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $41.48, for a total transaction of $364,028.48. Following the completion of the sale, the director owned 83,220 shares in the company, valued at $3,451,965.60. This represents a 9.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,804 shares of company stock valued at $479,997 over the last ninety days. Company insiders own 23.10% of the company's stock.

Princeton Bancorp Price Performance

Princeton Bancorp stock opened at $42.29 on Thursday. Princeton Bancorp, Inc. has a one year low of $29.69 and a one year high of $43.93. The business's fifty day moving average is $40.08 and its 200 day moving average is $36.79. The stock has a market capitalization of $288.12 million, a PE ratio of 11.13 and a beta of 0.47.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.16. The business had revenue of $22.48 million during the quarter, compared to analyst estimates of $21.84 million. Princeton Bancorp had a return on equity of 9.48% and a net margin of 18.99%. As a group, sell-side analysts expect that Princeton Bancorp, Inc. will post 3.88 EPS for the current fiscal year.

Princeton Bancorp Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.3%. Princeton Bancorp's payout ratio is currently 36.84%.

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.

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