The Bank of Princeton (NASDAQ:BPRN) Downgraded by Zacks Investment Research to “Hold”

The Bank of Princeton (NASDAQ:BPRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “The Bank of Princeton is a community bank which provides banking products and services. The company offers checking accounts, savings accounts, attorney trust accounts, money market accounts and certificates of deposit; and commercial real estate, commercial and industrial, construction, residential first-lien mortgage, home equity and consumer loans, as well as lines of credit. It operates primarily in New Jersey, Hamilton, Pennington, Montgomery, Monroe Township, Lambertville, New Brunswick, Lawrenceville. The Bank of Princeton is headquartered in Princeton, New Jersey. “

The Bank of Princeton stock opened at $30.35 on Friday. The business’s 50-day simple moving average is $30.09 and its 200-day simple moving average is $29.22. The firm has a market capitalization of $205.17 million, a PE ratio of 11.58 and a beta of 0.67. The Bank of Princeton has a 52 week low of $17.76 and a 52 week high of $31.31.

The Bank of Princeton (NASDAQ:BPRN) last posted its quarterly earnings data on Wednesday, July 21st. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $16.75 million during the quarter, compared to the consensus estimate of $16.24 million. On average, analysts predict that The Bank of Princeton will post 3.06 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of BPRN. Millennium Management LLC bought a new position in The Bank of Princeton during the second quarter valued at about $2,565,000. Alliancebernstein L.P. boosted its holdings in The Bank of Princeton by 32.7% during the second quarter. Alliancebernstein L.P. now owns 319,639 shares of the company’s stock valued at $9,164,000 after purchasing an additional 78,772 shares in the last quarter. Systematic Financial Management LP boosted its holdings in The Bank of Princeton by 24.5% during the second quarter. Systematic Financial Management LP now owns 313,993 shares of the company’s stock valued at $9,002,000 after purchasing an additional 61,727 shares in the last quarter. BlackRock Inc. boosted its holdings in The Bank of Princeton by 14.6% during the first quarter. BlackRock Inc. now owns 355,142 shares of the company’s stock valued at $10,165,000 after purchasing an additional 45,206 shares in the last quarter. Finally, Fourthstone LLC acquired a new stake in The Bank of Princeton during the second quarter valued at approximately $878,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

The Bank of Princeton Company Profile

The Bank of Princeton engages in the provision of personal, business lending, and deposit services. It offers traditional retail banking solutions, one-to four-family residential mortgage loans, multi-family and commercial mortgage loans, construction loans, commercial business loans, and consumer loans including home equity loans and lines of credit.

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