Insider Buying: Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Purchases $719,620.00 in Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman bought 22,000 shares of Princeton Bancorp stock in a transaction on Tuesday, February 11th. The stock was acquired at an average price of $32.71 per share, with a total value of $719,620.00. Following the completion of the purchase, the director now directly owns 629,141 shares of the company’s stock, valued at approximately $20,579,202.11. The trade was a 3.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Princeton Bancorp Trading Up 0.2 %

Shares of Princeton Bancorp stock opened at $31.82 on Friday. The firm has a fifty day simple moving average of $33.90 and a 200-day simple moving average of $35.78. Princeton Bancorp, Inc. has a 1-year low of $29.02 and a 1-year high of $39.35. The stock has a market capitalization of $217.94 million, a price-to-earnings ratio of 18.94 and a beta of 0.59.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.11). As a group, research analysts predict that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current year.

Princeton Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.77%. The ex-dividend date is Wednesday, February 5th. Princeton Bancorp’s payout ratio is currently 71.43%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Janney Montgomery Scott upgraded shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Tuesday, February 4th. Hovde Group assumed coverage on shares of Princeton Bancorp in a research note on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 price objective for the company.

Hedge Funds Weigh In On Princeton Bancorp

Several large investors have recently bought and sold shares of BPRN. Systematic Financial Management LP raised its stake in Princeton Bancorp by 11.1% during the 3rd quarter. Systematic Financial Management LP now owns 318,772 shares of the company’s stock valued at $11,788,000 after purchasing an additional 31,777 shares during the last quarter. Banc Funds Co. LLC raised its stake in Princeton Bancorp by 10.3% during the 3rd quarter. Banc Funds Co. LLC now owns 340,716 shares of the company’s stock valued at $12,600,000 after purchasing an additional 31,700 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Princeton Bancorp during the 4th quarter valued at $677,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Princeton Bancorp in the 3rd quarter valued at $382,000. Finally, JPMorgan Chase & Co. increased its holdings in Princeton Bancorp by 63.7% in the 4th quarter. JPMorgan Chase & Co. now owns 23,847 shares of the company’s stock valued at $821,000 after buying an additional 9,279 shares during the period. 43.36% of the stock is currently owned by institutional investors and hedge funds.

About Princeton Bancorp

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.