Wall Street Zen Downgrades Princeton Bancorp (NASDAQ:BPRN) to Sell

Princeton Bancorp (NASDAQ:BPRN) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Princeton Bancorp Stock Performance

BPRN stock opened at $29.43 on Friday. The firm has a market cap of $203.95 million, a PE ratio of 16.63 and a beta of 0.64. The firm’s fifty day moving average is $30.31 and its 200 day moving average is $31.76. Princeton Bancorp has a one year low of $27.25 and a one year high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. The firm had revenue of $20.95 million for the quarter, compared to analyst estimates of $20.73 million. Research analysts predict that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.

Insider Activity at Princeton Bancorp

In related news, Director Martin Tuchman bought 2,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were acquired at an average price of $30.40 per share, for a total transaction of $60,800.00. Following the completion of the transaction, the director now directly owns 114,794 shares in the company, valued at $3,489,737.60. This trade represents a 1.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Adkins sold 1,000 shares of Princeton Bancorp stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $31.37, for a total transaction of $31,370.00. Following the completion of the sale, the insider now owns 10,794 shares in the company, valued at approximately $338,607.78. This trade represents a 8.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 9,079 shares of company stock worth $279,450 and have sold 1,933 shares worth $61,541. 23.00% of the stock is owned by company insiders.

Institutional Trading of Princeton Bancorp

Several institutional investors have recently modified their holdings of BPRN. Systematic Financial Management LP grew its position in shares of Princeton Bancorp by 6.5% in the fourth quarter. Systematic Financial Management LP now owns 339,411 shares of the company’s stock valued at $11,686,000 after purchasing an additional 20,639 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Princeton Bancorp during the fourth quarter worth about $677,000. Lynch Asset Management Inc. acquired a new position in Princeton Bancorp during the first quarter worth about $518,000. Focus Partners Wealth acquired a new position in Princeton Bancorp during the fourth quarter worth about $345,000. Finally, JPMorgan Chase & Co. boosted its position in Princeton Bancorp by 63.7% during the fourth quarter. JPMorgan Chase & Co. now owns 23,847 shares of the company’s stock worth $821,000 after acquiring an additional 9,279 shares during the last quarter. Institutional investors and hedge funds own 43.36% of the company’s stock.

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.