Hovde Group Issues Positive Forecast for Princeton Bancorp (NASDAQ:BPRN) Stock Price

Princeton Bancorp (NASDAQ:BPRN) had its target price raised by Hovde Group from $35.00 to $37.50 in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have a market perform rating on the stock.

BPRN has been the topic of a number of other reports. Zacks Research lowered shares of Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings raised shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Finally, Janney Montgomery Scott upgraded Princeton Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Princeton Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Princeton Bancorp Stock Up 0.9%

BPRN stock opened at $37.84 on Tuesday. The firm has a market capitalization of $255.80 million, a PE ratio of 13.91 and a beta of 0.53. Princeton Bancorp has a twelve month low of $27.25 and a twelve month high of $37.99. The stock’s 50 day moving average is $35.48 and its 200-day moving average is $33.26.

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

Princeton Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Wednesday, February 4th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, February 4th. Princeton Bancorp’s dividend payout ratio (DPR) is currently 51.47%.

Insider Buying and Selling at Princeton Bancorp

In other news, Director Martin Tuchman acquired 2,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average cost of $32.30 per share, for a total transaction of $64,600.00. Following the purchase, the director owned 13,604 shares of the company’s stock, valued at approximately $439,409.20. The trade was a 17.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew T. Clark sold 1,500 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $32.62, for a total transaction of $48,930.00. Following the sale, the insider directly owned 81 shares in the company, valued at approximately $2,642.22. This trade represents a 94.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders acquired 8,601 shares of company stock worth $281,641. Corporate insiders own 21.90% of the company’s stock.

Institutional Investors Weigh In On Princeton Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of BPRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Princeton Bancorp by 14.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after acquiring an additional 431 shares in the last quarter. Empowered Funds LLC boosted its holdings in Princeton Bancorp by 3.6% in the 1st quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,169 shares during the period. Roundview Capital LLC grew its position in shares of Princeton Bancorp by 14.9% during the 2nd quarter. Roundview Capital LLC now owns 61,792 shares of the company’s stock valued at $1,887,000 after purchasing an additional 8,000 shares in the last quarter. SilverOak Wealth Management LLC bought a new position in shares of Princeton Bancorp in the second quarter worth $232,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 worth $479,000 after buying an additional 3,044 shares in the last quarter. 43.36% of the stock is owned by hedge funds and other institutional investors.

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.