The Bank Of Prn (BPRN) Research Coverage Started at FBR & Co
FBR & Co initiated coverage on shares of The Bank Of Prn (NASDAQ:BPRN) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $37.00 price target on the stock. FBR & Co’s target price suggests a potential upside of 13.85% from the company’s current price.
The analysts wrote, “We initiate coverage of Bank of Princeton (BPRN) with a Buy rating and a 12-month price target of $37 per share. Bank of Princeton is a well-run growth bank located in New Jersey that focuses on commercial real estate between New York City and Philadelphia. We expect strong organic loan growth to resume given the bank’s attractive markets, ample capital following its initial public offering, and a renewed internal focus following the merger termination with Investors Bancorp, Inc. (ISBC) in January 2017. At 14.1x our 2018 EPS estimate and 1.3x pro forma TBV, BPRN trades at an attractive discount to small-cap peers at 14.8x 2018E EPS and 2.1x TBV.””
Shares of The Bank Of Prn (BPRN) traded down 0.68% on Monday, reaching $32.28. 7,175 shares of the company were exchanged. The Bank Of Prn has a 12 month low of $29.10 and a 12 month high of $39.00. The company’s 50-day moving average price is $27.54 and its 200 day moving average price is $27.54. The company has a market cap of $155.62 million and a price-to-earnings ratio of 13.45.
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