Princeton Bancorp (NASDAQ:BPRN) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• Princeton Bancorp reported a quarterly earnings per share (EPS) of $0.10, exceeding analysts' expectations by $0.12, with revenue reaching $21.06 million compared to the anticipated $19.25 million.
• The company declared a quarterly dividend of $0.30 per share, yielding 3.79%, to be paid on August 29th, with a record date of August 6th.
• Insider transactions revealed a director purchased 2,000 shares while another insider sold 1,000 shares, indicating active management involvement in company stock.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.12, Zacks reports. The firm had revenue of $21.06 million during the quarter, compared to analysts' expectations of $19.25 million.

Princeton Bancorp Price Performance

BPRN stock traded up $0.16 during mid-day trading on Friday, reaching $31.70. 5,574 shares of the company traded hands, compared to its average volume of 10,921. The company has a market capitalization of $219.68 million, a P/E ratio of 29.63 and a beta of 0.62. Princeton Bancorp has a 52-week low of $27.25 and a 52-week high of $39.35. The company has a fifty day moving average price of $31.11 and a 200-day moving average price of $31.11.

Princeton Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Wednesday, August 6th. Princeton Bancorp's payout ratio is presently 67.80%.

Insider Transactions at Princeton Bancorp

In other Princeton Bancorp news, Director Martin Tuchman purchased 2,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $31.28 per share, for a total transaction of $62,560.00. Following the transaction, the director owned 108,582 shares in the company, valued at $3,396,444.96. The trade was a 1.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephanie Adkins sold 1,000 shares of Princeton Bancorp stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $31.37, for a total value of $31,370.00. Following the sale, the insider owned 10,794 shares of the company's stock, valued at approximately $338,607.78. This trade represents a 8.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 9,079 shares of company stock valued at $279,450 and have sold 1,933 shares valued at $61,541. 23.00% of the stock is owned by insiders.

Institutional Trading of Princeton Bancorp

An institutional investor recently raised its position in Princeton Bancorp stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN - Free Report) by 14.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,360 shares of the company's stock after acquiring an additional 431 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Princeton Bancorp were worth $103,000 at the end of the most recent quarter. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Princeton Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, June 29th.

Princeton Bancorp Company Profile

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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