Princeton Bancorp (NASDAQ:BPRN) Director Sells 3,000 Shares of Company Stock

Key Points

• Director Martin Tuchman sold 3,000 Princeton Bancorp shares at an average price of $31.72, generating $95,160. He retained 636,141 shares after the transaction, a 0.47% reduction in ownership.
• Princeton Bancorp reported quarterly earnings of $1.04 per share, exceeding analysts’ $0.88 estimate, while revenue of $22.48 million also surpassed expectations.
• The company pays a quarterly dividend of $0.35 per share, equivalent to a 3.2% annualized yield. Analysts’ overall rating is “Moderate Buy,” though the consensus price target of $37.50 is below the reported share price of $43.66.

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) Director Martin Tuchman sold 3,000 shares of Princeton Bancorp stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $31.72, for a total transaction of $95,160.00. Following the sale, the director owned 636,141 shares of the company's stock, valued at approximately $20,178,392.52. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Martin Tuchman also recently made the following trade(s):

• On Wednesday, August 12th, Martin Tuchman acquired 10,534 shares of Princeton Bancorp stock. The shares were bought at an average cost of $42.98 per share, with a total value of $452,751.32.

Princeton Bancorp Stock Performance

Shares of BPRN traded up $0.50 during midday trading on Friday, hitting $43.66. 20,945 shares of the stock were exchanged, compared to its average volume of 17,547. Princeton Bancorp, Inc. has a 52-week low of $29.69 and a 52-week high of $44.50. The stock has a fifty day simple moving average of $42.70 and a 200 day simple moving average of $38.35. The firm has a market cap of $297.35 million, a P/E ratio of 11.49 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, beating the consensus estimate of $0.88 by $0.16. Princeton Bancorp had a net margin of 18.99% and a return on equity of 9.48%. The firm had revenue of $22.48 million for the quarter, compared to analysts' expectations of $21.84 million. As a group, equities research analysts forecast that Princeton Bancorp, Inc. will post 3.88 EPS for the current fiscal year.

Princeton Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Wednesday, August 5th were issued a dividend of $0.35 per share. 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 payout ratio is 36.84%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Princeton Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new stake in Princeton Bancorp during the 1st quarter valued at approximately $30,000. Deutsche Bank AG purchased a new stake in shares of Princeton Bancorp during the second quarter worth approximately $189,000. Hsbc Holdings PLC acquired a new stake in shares of Princeton Bancorp during the second quarter worth $282,000. Squarepoint Ops LLC purchased a new position in Princeton Bancorp in the 2nd quarter valued at $359,000. Finally, GSA Capital Partners LLP purchased a new position in Princeton Bancorp in the 2nd quarter valued at $375,000. 43.36% of the stock is owned by hedge funds and other institutional investors.

About Princeton Bancorp

Princeton Bancorp, Inc is a bank holding company headquartered in Princeton, New Jersey. Through its principal subsidiary, The Princeton Bank, the company provides banking and financial services to individuals, families, businesses, and nonprofit organizations.

The Princeton Bank offers deposit products, including checking, savings, money market, and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, commercial and industrial financing, construction loans, home equity products, and consumer loans.

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