Princeton Bancorp (NASDAQ:BPRN) Posts Quarterly Earnings Results

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) issued its quarterly earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.12, Zacks reports. The business had revenue of $21.06 million during the quarter, compared to the consensus estimate of $19.25 million.

Princeton Bancorp Price Performance

NASDAQ BPRN traded down $0.90 during trading hours on Wednesday, hitting $30.49. The company's stock had a trading volume of 8,019 shares, compared to its average volume of 9,802. Princeton Bancorp has a 12 month low of $27.25 and a 12 month high of $39.35. The company's 50 day simple moving average is $31.08 and its two-hundred day simple moving average is $31.08. The company has a market cap of $211.30 million, a P/E ratio of 28.50 and a beta of 0.62.

Princeton Bancorp Dividend Announcement

The firm 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Wednesday, August 6th. Princeton Bancorp's payout ratio is 112.15%.

Insider Activity

In other Princeton Bancorp news, insider Stephanie Adkins sold 1,000 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $31.37, for a total transaction of $31,370.00. Following the completion of the sale, the insider directly owned 10,794 shares in the company, valued at $338,607.78. The trade was a 8.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin Tuchman bought 1,044 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average price of $30.47 per share, with a total value of $31,810.68. Following the completion of the transaction, the director directly owned 117,838 shares of the company's stock, valued at $3,590,523.86. This trade represents a 0.89% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 7,079 shares of company stock valued at $219,020 and sold 1,933 shares valued at $61,541. 21.90% of the stock is currently owned by company insiders.

Institutional Trading of Princeton Bancorp

An institutional investor recently raised its position in Princeton Bancorp stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN - Free Report) by 14.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,360 shares of the company's stock after purchasing an additional 431 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Princeton Bancorp were worth $103,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 43.36% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded 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.