Princeton Bancorp (NASDAQ:BPRN) Director Sells $330,000.00 in Stock

Key Points

• Princeton Bancorp Director Stephen Distler sold 10,000 shares of stock for a total of $330,000, resulting in a 9.97% decrease in his ownership.
• The company's stock price currently trades at $32.41, down 1.9% from the previous day, with a market cap of $218.77 million.
• Princeton Bancorp recently declared a quarterly dividend of $0.30, with an annualized yield of 3.7%, despite a payout ratio of 112.15%.

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) Director Stephen Distler sold 10,000 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $33.00, for a total value of $330,000.00. Following the sale, the director owned 90,296 shares in the company, valued at approximately $2,979,768. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Princeton Bancorp Trading Down 1.9%

BPRN stock traded down $0.63 during trading on Wednesday, hitting $32.41. The company had a trading volume of 7,178 shares, compared to its average volume of 6,250. The business has a 50-day moving average of $32.35 and a 200-day moving average of $31.08. Princeton Bancorp, Inc. has a one year low of $27.25 and a one year high of $39.35. The stock has a market cap of $218.77 million, a PE ratio of 30.29 and a beta of 0.66.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.12. The company had revenue of $21.06 million during the quarter, compared to the consensus estimate of $19.25 million. Research analysts forecast that Princeton Bancorp, Inc. will post 3.35 EPS for the current year.

Princeton Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Wednesday, August 6th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.20 annualized dividend and a yield of 3.7%. Princeton Bancorp's payout ratio is 112.15%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Princeton Bancorp

Several institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC grew its stake in Princeton Bancorp by 104.6% in the 4th quarter. Citadel Advisors LLC now owns 16,766 shares of the company's stock valued at $577,000 after purchasing an additional 8,570 shares during the period. Bank of America Corp DE grew its stake in Princeton Bancorp by 49.2% in the 4th quarter. Bank of America Corp DE now owns 5,509 shares of the company's stock valued at $190,000 after purchasing an additional 1,816 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Princeton Bancorp by 3.6% in the 1st 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 during the period. Northern Trust Corp grew its stake in Princeton Bancorp by 14.1% in the 4th 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 during the period. Finally, Focus Partners Wealth bought a new position in Princeton Bancorp in the 4th quarter valued at $345,000. 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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