Princeton Bancorp (NASDAQ:BPRN) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Princeton Bancorp (NASDAQ: BPRN) from "strong sell" to "hold," and other firms (Weiss Ratings, Hovde) have also raised ratings or targets, leaving an average analyst rating of "Moderate Buy" with an average price target of $37.50.
• Shares trade around $34.60 (50-day SMA $34.73, 200-day SMA $33.92) with a market cap of about $235M and a P/E of 12.7; the company missed quarterly EPS expectations ($0.90 vs. $0.94) while analysts forecast full-year EPS of 3.35.
• Institutional investors own roughly 43.4% of the stock, and several funds (e.g., Mirae Asset, Geode, AllianceBernstein) recently increased their positions, signaling rising institutional interest.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on BPRN. Weiss Ratings upgraded shares of Princeton Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, January 23rd. Hovde Group boosted their target price on shares of Princeton Bancorp from $35.00 to $37.50 and gave the company a "market perform" rating in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $37.50.

Princeton Bancorp Trading Down 0.1%

Shares of NASDAQ BPRN opened at $34.60 on Monday. Princeton Bancorp has a 12 month low of $27.25 and a 12 month high of $37.99. The company has a 50 day simple moving average of $34.73 and a two-hundred day simple moving average of $33.92. The stock has a market cap of $235.14 million, a price-to-earnings ratio of 12.72 and a beta of 0.49.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04). The company had revenue of $20.75 million for the quarter, compared to analysts' expectations of $21.03 million. Analysts forecast that Princeton Bancorp will post 3.35 EPS for the current year.

Institutional Investors Weigh In On Princeton Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in BPRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Princeton Bancorp by 14.7% in the 1st 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. Empowered Funds LLC increased its holdings in Princeton Bancorp by 3.6% in the 1st quarter. Empowered Funds LLC now owns 33,941 shares of the company's stock worth $1,037,000 after acquiring an additional 1,169 shares in the last quarter. Geode Capital Management LLC increased its holdings in Princeton Bancorp by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 127,347 shares of the company's stock worth $3,890,000 after acquiring an additional 1,542 shares in the last quarter. Fourthstone LLC increased its holdings in Princeton Bancorp by 103.4% in the 2nd quarter. Fourthstone LLC now owns 20,454 shares of the company's stock worth $625,000 after acquiring an additional 10,400 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Princeton Bancorp by 2.4% in the 2nd quarter. Alliancebernstein L.P. now owns 555,927 shares of the company's stock worth $16,978,000 after acquiring an additional 13,280 shares in the last quarter. Hedge funds and other institutional investors 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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