Princeton Bancorp (NASDAQ:BPRN) Director Sells 8,776 Shares of Stock

Key Points

• Director Stephen Distler sold 8,776 Princeton Bancorp shares at an average price of $41.48, totaling approximately $364,028. Following the transaction, he retained 83,220 shares, a 9.54% reduction in his position.
• Princeton Bancorp reported quarterly EPS of $1.04, beating estimates of $0.88, while revenue of $22.48 million also exceeded expectations. The stock opened at $41.24 and has traded between $29.69 and $43.93 over the past year.
• The company declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 3.4% yield. Analysts collectively rate the stock “Moderate Buy,” with a consensus price target of $37.50.

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) Director Stephen Distler sold 8,776 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $41.48, for a total transaction of $364,028.48. Following the transaction, the director directly owned 83,220 shares in the company, valued at $3,451,965.60. The trade was a 9.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Princeton Bancorp Price Performance

Shares of NASDAQ:BPRN opened at $41.24 on Monday. The business has a fifty day simple moving average of $37.73 and a 200-day simple moving average of $36.04. Princeton Bancorp, Inc. has a 52 week low of $29.69 and a 52 week high of $43.93. The company has a market cap of $280.84 million, a P/E ratio of 10.85 and a beta of 0.47.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last posted its quarterly 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. Princeton Bancorp had a return on equity of 9.57% and a net margin of 18.99%.The company had revenue of $22.48 million during the quarter, compared to analysts' expectations of $21.84 million. Sell-side analysts expect that Princeton Bancorp, Inc. will post 3.88 earnings per share for the current fiscal year.

Princeton Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 5th. Princeton Bancorp's payout ratio is 36.84%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Zacks Research upgraded Princeton Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. 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 issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Princeton Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $37.50.

Institutional Investors Weigh In On Princeton Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC bought a new position in Princeton Bancorp in the first quarter worth about $30,000. Glenmede Trust Co. NA grew its stake in Princeton Bancorp by 6.5% during the 1st quarter. Glenmede Trust Co. NA now owns 27,767 shares of the company's stock worth $938,000 after buying an additional 1,700 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Princeton Bancorp by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 160,383 shares of the company's stock worth $5,416,000 after acquiring an additional 11,235 shares during the last quarter. Quadrature Capital Ltd bought a new position in Princeton Bancorp in the 4th quarter worth about $211,000. Finally, Millennium Management LLC raised its holdings in shares of Princeton Bancorp by 54.6% during the fourth quarter. Millennium Management LLC now owns 13,779 shares of the company's stock valued at $478,000 after buying an additional 4,868 shares during the last quarter. Institutional investors and hedge funds own 43.36% of the company's stock.

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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