Princeton Bancorp (NASDAQ:BPRN) Upgraded to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of Princeton Bancorp (NASDAQ:BPRN - Free Report) from a sell rating to a hold rating in a report published on Sunday.

Princeton Bancorp Price Performance

Shares of NASDAQ BPRN traded up $0.43 during midday trading on Friday, hitting $31.72. 9,291 shares of the company's stock were exchanged, compared to its average volume of 10,214. Princeton Bancorp has a twelve month low of $27.25 and a twelve month high of $39.35. The firm has a market cap of $219.78 million, a P/E ratio of 18.10 and a beta of 0.62. The stock's 50 day moving average price is $30.62 and its 200-day moving average price is $31.38.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.01. The business had revenue of $20.95 million for the quarter, compared to analyst estimates of $20.73 million. On average, analysts expect that Princeton Bancorp will post 3.35 EPS for the current fiscal year.

Princeton Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Tuesday, May 6th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 6th. This represents a $1.20 annualized dividend and a yield of 3.78%. Princeton Bancorp's dividend payout ratio is currently 67.80%.

Insider Transactions at Princeton Bancorp

In other Princeton Bancorp news, Director Martin Tuchman purchased 2,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $31.28 per share, with a total value of $62,560.00. Following the acquisition, the director owned 108,582 shares of the company's stock, valued at $3,396,444.96. The trade was a 1.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephanie Adkins sold 1,000 shares of the company's stock in a transaction on 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 directly owned 10,794 shares of the company's stock, valued at approximately $338,607.78. This represents a 8.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 9,079 shares of company stock worth $279,450 and have sold 1,933 shares worth $61,541. 21.90% of the stock is owned by insiders.

Institutional Trading of Princeton Bancorp

Hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in shares of Princeton Bancorp in the fourth quarter worth approximately $677,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Princeton Bancorp by 6.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,950 shares of the company's stock valued at $377,000 after purchasing an additional 633 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Princeton Bancorp by 63.7% in the fourth quarter. JPMorgan Chase & Co. now owns 23,847 shares of the company's stock valued at $821,000 after purchasing an additional 9,279 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Princeton Bancorp by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 116,891 shares of the company's stock valued at $4,025,000 after buying an additional 3,890 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Princeton Bancorp by 38.6% during the 4th quarter. Wells Fargo & Company MN now owns 3,222 shares of the company's stock worth $111,000 after acquiring an additional 898 shares during the period. 43.36% of the stock is owned by hedge funds and other institutional investors.

About Princeton Bancorp

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.