Princeton Bancorp (NASDAQ:BPRN) Downgraded to “Strong Sell” Rating by Zacks Research

Princeton Bancorp (NASDAQ:BPRN) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. Hovde Group increased their price objective on shares of Princeton Bancorp from $35.00 to $37.50 and gave the stock a “market perform” rating in a research report on Tuesday. Weiss Ratings upgraded Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 23rd. Finally, Janney Montgomery Scott raised Princeton Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Princeton Bancorp Stock Performance

Princeton Bancorp stock opened at $36.90 on Tuesday. The stock has a market capitalization of $249.44 million, a price-to-earnings ratio of 13.57 and a beta of 0.53. Princeton Bancorp has a 52-week low of $27.25 and a 52-week high of $37.99. The stock’s 50 day moving average price is $35.52 and its two-hundred day moving average price is $33.28.

Princeton Bancorp (NASDAQ:BPRN) last released its earnings results on Thursday, January 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). The company had revenue of $20.75 million for the quarter, compared to the consensus estimate of $21.03 million. On average, equities research analysts forecast that Princeton Bancorp will post 3.35 EPS for the current year.

Insider Buying and Selling

In other news, insider Matthew T. Clark sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $32.62, for a total value of $48,930.00. Following the completion of the sale, the insider directly owned 81 shares of the company’s stock, valued at $2,642.22. This represents a 94.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin Tuchman bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average cost 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. The trade was a 17.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 8,601 shares of company stock valued at $281,641 over the last three months. Corporate insiders own 23.00% of the company’s stock.

Institutional Trading of Princeton Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Princeton Bancorp during the second quarter valued at about $38,000. Raymond James Financial Inc. bought a new position in shares of Princeton Bancorp during the 2nd quarter worth approximately $61,000. Tower Research Capital LLC TRC lifted its position in shares of Princeton Bancorp by 584.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock worth $67,000 after buying an additional 1,871 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Princeton Bancorp by 14.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock worth $103,000 after buying an additional 431 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Princeton Bancorp by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock valued at $219,000 after acquiring an additional 892 shares in the last quarter. Hedge funds and other institutional investors own 43.36% of the company’s stock.

About Princeton Bancorp

Princeton Bancorp, Inc is the bank holding company for Princeton Bank, a community-focused financial institution based in Princeton, New Jersey. Through its wholly owned subsidiary, the company offers a full suite of personal and business banking services designed to meet the needs of individuals, families and local enterprises in central and southern New Jersey.

The company’s core offerings include checking and savings accounts, consumer and commercial lending, mortgage origination and refinancing, as well as treasury management solutions for small-to-medium-sized businesses.