Insider Buying: Princeton Bancorp (NASDAQ:BPRN) Director Purchases 2,000 Shares of Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman acquired 2,000 shares of the stock in a transaction dated Tuesday, November 4th. The stock was bought at an average cost of $32.25 per share, with a total value of $64,500.00. Following the completion of the purchase, the director owned 2,000 shares of the company’s stock, valued at approximately $64,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Martin Tuchman also recently made the following trade(s):

• On Wednesday, November 5th, Martin Tuchman acquired 3 shares of Princeton Bancorp stock. The stock was bought at an average cost of $32.60 per share, with a total value of $97.80.
• On Monday, September 8th, Martin Tuchman acquired 10,000 shares of Princeton Bancorp stock. The stock was bought at an average cost of $33.00 per share, with a total value of $330,000.00.

Princeton Bancorp Stock Performance

Shares of Princeton Bancorp stock traded up $0.46 on Thursday, hitting $33.43. The company had a trading volume of 4,147 shares, compared to its average volume of 9,773. The stock has a market capitalization of $225.55 million, a price-to-earnings ratio of 13.01 and a beta of 0.65. Princeton Bancorp, Inc. has a 1 year low of $27.25 and a 1 year high of $38.95. The stock has a 50 day moving average of $31.76 and a 200-day moving average of $31.43.

Princeton Bancorp (NASDAQ:BPRN) last released its earnings results on Tuesday, November 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The business had revenue of $21.53 million during the quarter, compared to the consensus estimate of $20.33 million. Equities analysts anticipate that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current year.

Princeton Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.2%. This is a positive change from Princeton Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, November 7th. Princeton Bancorp’s dividend payout ratio is currently 54.47%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Princeton Bancorp in a report on Wednesday, October 8th. Zacks Research upgraded Princeton Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Janney Montgomery Scott upgraded Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $37.50.

Institutional Trading of Princeton Bancorp

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in Princeton Bancorp by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,573 shares of the company’s stock valued at $445,000 after buying an additional 500 shares during the last quarter. Roundview Capital LLC raised its stake in Princeton Bancorp by 14.9% during the 2nd quarter. Roundview Capital LLC now owns 61,792 shares of the company’s stock valued at $1,887,000 after buying an additional 8,000 shares during the last quarter. Nuveen LLC purchased a new stake in Princeton Bancorp during the 1st quarter valued at $229,000. SilverOak Wealth Management LLC purchased a new stake in shares of Princeton Bancorp in the 2nd quarter worth $232,000. Finally, Systematic Financial Management LP increased its stake in shares of Princeton Bancorp by 0.8% in the 1st quarter. Systematic Financial Management LP now owns 341,978 shares of the company’s stock worth $10,447,000 after purchasing an additional 2,567 shares in the last quarter. 43.36% of the stock is owned by institutional investors.

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.