Princeton Bancorp (NASDAQ:BPRN) Insider Matthew Clark Sells 1,428 Shares

Key Points

• Insider sale: Princeton Bancorp insider Matthew Clark sold 1,428 shares for approximately $59,905, reducing his position by 50%.
• Quarterly performance: The company reported earnings of $1.04 per share, exceeding estimates of $0.88, while revenue of $22.48 million also topped expectations.
• Dividend and outlook: Princeton Bancorp declared a quarterly dividend of $0.35, equivalent to a 3.3% annual yield. Analysts maintain a “Moderate Buy” consensus, though their average price target of $37.50 is below the stock’s reported $42.12 opening price.

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) insider Matthew Clark sold 1,428 shares of the business's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $41.95, for a total value of $59,904.60. Following the transaction, the insider owned 1,428 shares of the company's stock, valued at $59,904.60. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Princeton Bancorp Stock Performance

NASDAQ:BPRN opened at $42.12 on Monday. The stock has a market cap of $286.84 million, a price-to-earnings ratio of 11.08 and a beta of 0.47. Princeton Bancorp, Inc. has a 1 year low of $29.69 and a 1 year high of $43.93. The business has a fifty day moving average of $38.36 and a 200-day moving average of $36.26.

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

Princeton Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 5th. Princeton Bancorp's dividend payout ratio is currently 36.84%.

Hedge Funds Weigh In On Princeton Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC acquired a new stake in Princeton Bancorp during the 1st quarter worth about $30,000. Raymond James Financial Inc. acquired a new position in shares of Princeton Bancorp in the second quarter worth about $61,000. Tower Research Capital LLC TRC increased its position in shares of Princeton Bancorp by 584.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company's stock worth $67,000 after acquiring an additional 1,871 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Princeton Bancorp by 14.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company's stock worth $103,000 after acquiring an additional 431 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Princeton Bancorp during the second quarter valued at approximately $189,000. Institutional investors and hedge funds own 43.36% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Princeton Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Princeton Bancorp presently has an average rating of "Moderate Buy" and a consensus price target 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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