Princeton Bancorp (NASDAQ:BPRN) Director Purchases $452,751.32 in Stock

Key Points

• Director Martin Tuchman purchased 10,534 Princeton Bancorp shares at an average price of $42.98, investing $452,751.32 and increasing his position by 77.43% to 24,138 shares.
• Princeton Bancorp’s latest quarterly results exceeded expectations, with EPS of $1.04 versus the $0.88 consensus and revenue of $22.48 million. The company also declared a quarterly dividend of $0.35 per share, representing a 3.2% annualized yield.
• The stock traded near its 52-week high at $43.39, while institutional investors own 43.36% of outstanding shares. Analysts maintain a “Moderate Buy” consensus, though the average price target of $37.50 is below the current share price.

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) Director Martin Tuchman purchased 10,534 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $42.98 per share, with a total value of $452,751.32. Following the completion of the transaction, the director owned 24,138 shares in the company, valued at $1,037,451.24. This trade represents a 77.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Princeton Bancorp Trading Down 0.1%

Shares of BPRN traded down $0.03 during midday trading on Friday, reaching $43.39. 10,274 shares of the company were exchanged, compared to its average volume of 15,339. Princeton Bancorp, Inc. has a 1-year low of $29.69 and a 1-year high of $43.93. The stock has a 50-day moving average price of $39.00 and a 200-day moving average price of $36.43. The company has a market cap of $295.49 million, a price-to-earnings ratio of 11.38 and a beta of 0.47.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.88 by $0.16. The business had revenue of $22.48 million for the quarter, compared to the consensus estimate of $21.84 million. Princeton Bancorp had a return on equity of 9.57% and a net margin of 18.99%. Equities research analysts anticipate that Princeton Bancorp, Inc. will post 3.88 earnings per share for the current year.

Princeton Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Wednesday, August 5th will be 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 is Wednesday, August 5th. Princeton Bancorp's dividend payout ratio (DPR) is presently 36.84%.

Institutional Investors Weigh In On Princeton Bancorp

A number of institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Princeton Bancorp in the second quarter valued at about $521,000. BlackRock Inc. bought a new stake in shares of Princeton Bancorp in the 2nd quarter valued at approximately $16,230,000. Deutsche Bank AG acquired a new stake in shares of Princeton Bancorp during the 2nd quarter valued at approximately $189,000. Bank of New York Mellon Corp bought a new position in Princeton Bancorp during the second quarter worth $1,198,000. Finally, GSA Capital Partners LLP acquired a new position in Princeton Bancorp in the second quarter worth $375,000. Institutional investors and hedge funds own 43.36% of the company's stock.

Wall Street Analyst Weigh In

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

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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