Empowered Funds LLC Takes Position in Princeton Bancorp, Inc. $BPRN

Key Points

• Empowered Funds LLC acquired 33,610 shares of Princeton Bancorp during the second quarter, valued at approximately $1.28 million and representing about 0.49% of the company. Institutional investors collectively own 43.36% of BPRN.
• Princeton Bancorp reported quarterly EPS of $1.04, exceeding the $0.88 consensus estimate, while revenue of $22.48 million also topped expectations. The company declared a quarterly dividend of $0.35, or $1.40 annualized, yielding approximately 3.2%.
• BPRN shares opened at $43.53, near their 52-week high of $44.01. Analysts collectively rate the stock “Moderate Buy,” although the average price target of $37.50 is below the current share price.

Empowered Funds LLC acquired 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 & Exchange Commission. The firm acquired 33,610 shares of the company's stock, valued at approximately $1,276,000. Empowered Funds LLC owned approximately 0.49% of Princeton Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in BPRN. Alliancebernstein L.P. increased its stake in Princeton Bancorp by 1.0% in the 3rd quarter. Alliancebernstein L.P. now owns 561,737 shares of the company's stock worth $17,886,000 after acquiring an additional 5,810 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Princeton Bancorp during the second quarter worth about $16,230,000. Dimensional Fund Advisors LP increased its position in shares of Princeton Bancorp by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 160,383 shares of the company's stock worth $5,416,000 after purchasing an additional 11,235 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Princeton Bancorp by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 127,621 shares of the company's stock worth $4,428,000 after purchasing an additional 659 shares during the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new stake in Princeton Bancorp in the second quarter valued at approximately $3,701,000. Institutional investors own 43.36% of the company's stock.

Princeton Bancorp Stock Performance

Shares of Princeton Bancorp stock opened at $43.53 on Friday. Princeton Bancorp, Inc. has a 52-week low of $29.69 and a 52-week high of $44.01. The company's 50 day moving average price is $40.78 and its 200-day moving average price is $37.12. The stock has a market capitalization of $296.57 million, a price-to-earnings ratio of 11.46 and a beta of 0.47.

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

Princeton Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Wednesday, August 5th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, August 5th. Princeton Bancorp's dividend payout ratio is presently 36.84%.

Insider Activity at Princeton Bancorp

In other Princeton Bancorp news, insider Matthew T. Clark sold 1,428 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $41.95, for a total transaction of $59,904.60. Following the completion of the transaction, the insider owned 1,428 shares of the company's stock, valued at approximately $59,904.60. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephanie Adkins sold 1,600 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $35.04, for a total transaction of $56,064.00. Following the sale, the insider directly owned 21,272 shares in the company, valued at $745,370.88. The trade was a 7.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 11,804 shares of company stock valued at $479,997. 23.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Princeton Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.50.

About Princeton Bancorp

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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