Princeton Bancorp (NASDAQ:BPRN) Director Purchases $64,600.00 in Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman acquired 2,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average price of $32.30 per share, for a total transaction of $64,600.00. Following the transaction, the director owned 13,604 shares of the company’s stock, valued at $439,409.20. This trade represents a 17.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, November 19th, Martin Tuchman acquired 1,056 shares of Princeton Bancorp stock. The stock was acquired at an average cost of $32.25 per share, for a total transaction of $34,056.00.
• On Wednesday, November 12th, Martin Tuchman bought 5,000 shares of Princeton Bancorp stock. The shares were acquired at an average cost of $33.00 per share, with a total value of $165,000.00.
• On Tuesday, November 11th, Martin Tuchman acquired 52 shares of Princeton Bancorp stock. The shares were acquired at an average cost of $33.00 per share, with a total value of $1,716.00.
• On Friday, November 7th, Martin Tuchman bought 493 shares of Princeton Bancorp stock. The stock was bought at an average cost of $33.00 per share, for a total transaction of $16,269.00.
• On Wednesday, November 5th, Martin Tuchman bought 3 shares of Princeton Bancorp stock. The shares were bought at an average price of $32.60 per share, for a total transaction of $97.80.
• On Tuesday, November 4th, Martin Tuchman purchased 2,000 shares of Princeton Bancorp stock. The shares were bought at an average cost of $32.25 per share, with a total value of $64,500.00.
• 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, for a total transaction of $330,000.00.

Princeton Bancorp Price Performance

Shares of BPRN stock traded up $0.86 during trading hours on Friday, reaching $33.47. 3,673 shares of the company traded hands, compared to its average volume of 9,695. The firm has a 50-day moving average price of $31.70 and a 200 day moving average price of $31.68. The company has a market cap of $226.35 million, a P/E ratio of 13.02 and a beta of 0.65. Princeton Bancorp, Inc. has a 12-month low of $27.25 and a 12-month high of $38.78.

Princeton Bancorp (NASDAQ:BPRN) last released its earnings results on Wednesday, October 29th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $21.53 million for the quarter, compared to the consensus estimate of $20.33 million. Sell-side analysts predict that Princeton Bancorp, Inc. will post 3.35 EPS for the current year.

Princeton Bancorp Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Princeton Bancorp by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,573 shares of the company’s stock valued at $445,000 after acquiring an additional 500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Princeton Bancorp by 24.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,688 shares of the company’s stock valued at $479,000 after buying an additional 3,044 shares in the last quarter. Roundview Capital LLC raised its position in shares of Princeton Bancorp by 14.9% in the second quarter. Roundview Capital LLC now owns 61,792 shares of the company’s stock worth $1,887,000 after acquiring an additional 8,000 shares during the period. Nuveen LLC purchased a new stake in shares of Princeton Bancorp during the 1st quarter worth about $229,000. Finally, SilverOak Wealth Management LLC acquired a new stake in shares of Princeton Bancorp during the 2nd quarter valued at about $232,000. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BPRN. Janney Montgomery Scott upgraded shares of Princeton Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Zacks Research upgraded Princeton Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Princeton Bancorp in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $35.00.

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.