Martin Tuchman Purchases 10,000 Shares of Princeton Bancorp (NASDAQ:BPRN) Stock

Key Points

• Martin Tuchman, a director at Princeton Bancorp, purchased 10,000 shares of stock at an average price of $33.00 per share, bringing his total to 639,141 shares valued at about $21 million.
• Princeton Bancorp's stock has decreased by 0.4%, trading at $32.90, with a market cap of approximately $222 million and a P/E ratio of 30.75.
• The company recently announced a $0.30 quarterly dividend, reflecting a yield of 3.6%, despite a high dividend payout ratio of 112.15%.

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) Director Martin Tuchman acquired 10,000 shares of the stock in a transaction on Monday, September 8th. The shares were acquired at an average price of $33.00 per share, for a total transaction of $330,000.00. Following the acquisition, the director owned 639,141 shares of the company's stock, valued at approximately $21,091,653. The trade was a 1.59% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Thursday, August 7th, Martin Tuchman acquired 1,000 shares of Princeton Bancorp stock. The shares were acquired at an average price of $31.00 per share, for a total transaction of $31,000.00.
• On Monday, August 4th, Martin Tuchman acquired 2,000 shares of Princeton Bancorp stock. The shares were acquired at an average price of $30.18 per share, for a total transaction of $60,360.00.
• On Friday, August 1st, Martin Tuchman acquired 961 shares of Princeton Bancorp stock. The shares were acquired at an average price of $30.00 per share, for a total transaction of $28,830.00.

Princeton Bancorp Stock Down 0.4%

BPRN traded down $0.14 during trading on Tuesday, hitting $32.90. 695 shares of the company's stock were exchanged, compared to its average volume of 9,516. The business's 50 day moving average is $32.32 and its two-hundred day moving average is $31.06. Princeton Bancorp, Inc. has a fifty-two week low of $27.25 and a fifty-two week high of $39.35. The stock has a market cap of $222.08 million, a P/E ratio of 30.75 and a beta of 0.66.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.12. The business had revenue of $21.06 million for the quarter, compared to analyst estimates of $19.25 million. On average, sell-side analysts forecast that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current year.

Princeton Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Wednesday, August 6th were paid a $0.30 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $1.20 annualized dividend and a dividend yield of 3.6%. Princeton Bancorp's dividend payout ratio is presently 112.15%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Princeton Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

Hedge Funds Weigh In On Princeton Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BPRN. Citadel Advisors LLC boosted its position in shares of Princeton Bancorp by 104.6% in the fourth quarter. Citadel Advisors LLC now owns 16,766 shares of the company's stock valued at $577,000 after acquiring an additional 8,570 shares during the period. Bank of America Corp DE boosted its position in shares of Princeton Bancorp by 49.2% in the fourth quarter. Bank of America Corp DE now owns 5,509 shares of the company's stock valued at $190,000 after acquiring an additional 1,816 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Princeton Bancorp by 3.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,573 shares of the company's stock valued at $445,000 after purchasing an additional 500 shares in the last quarter. Northern Trust Corp raised its stake in Princeton Bancorp by 14.1% in the fourth quarter. Northern Trust Corp now owns 44,179 shares of the company's stock valued at $1,521,000 after purchasing an additional 5,443 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Princeton Bancorp in the fourth quarter valued at approximately $216,000. Institutional investors own 43.36% of the company's stock.

About Princeton Bancorp

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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