Princeton Bancorp (NASDAQ:BPRN) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Princeton Bancorp (NASDAQ:BPRN) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

BPRN has been the topic of a number of other reports. Weiss Ratings upgraded Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Hovde Group upped their price target on Princeton Bancorp from $35.00 to $37.50 and gave the company a “market perform” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Princeton Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Princeton Bancorp Price Performance

Shares of BPRN traded up $0.53 on Monday, reaching $35.13. 2,305 shares of the stock traded hands, compared to its average volume of 15,238. The firm has a market cap of $238.71 million, a price-to-earnings ratio of 12.91 and a beta of 0.49. Princeton Bancorp has a 12 month low of $27.25 and a 12 month high of $37.99. The stock’s 50-day moving average price is $34.73 and its 200-day moving average price is $33.92.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings data 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 firm had revenue of $20.75 million during the quarter, compared to analyst estimates of $21.03 million. As a group, equities research analysts forecast that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.

Princeton Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 4th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, February 4th. Princeton Bancorp’s dividend payout ratio is presently 51.47%.

Institutional Trading of Princeton Bancorp

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Princeton Bancorp by 43.1% during the fourth quarter. AQR Capital Management LLC now owns 12,577 shares of the company’s stock worth $436,000 after purchasing an additional 3,789 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Princeton Bancorp during the third quarter worth $319,000. JPMorgan Chase & Co. grew its holdings in shares of Princeton Bancorp by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock worth $219,000 after purchasing an additional 892 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Princeton Bancorp during the fourth quarter worth $211,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Princeton Bancorp by 50.1% during the fourth quarter. Wells Fargo & Company MN now owns 5,855 shares of the company’s stock worth $203,000 after purchasing an additional 1,953 shares during the last quarter. Institutional investors own 43.36% of the company’s stock.

Princeton Bancorp Company Profile

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.