Princeton Bancorp (NASDAQ:BPRN) Cut to “Strong Sell” at Zacks Research

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

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

Princeton Bancorp Trading Down 2.1%

BPRN stock opened at $36.13 on Tuesday. The company’s 50 day moving average is $35.56 and its two-hundred day moving average is $33.30. Princeton Bancorp has a twelve month low of $27.25 and a twelve month high of $37.99. The stock has a market cap of $244.24 million, a P/E ratio of 13.28 and a beta of 0.53.

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

Princeton Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 4th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.40 annualized dividend and a dividend yield of 3.9%. Princeton Bancorp’s dividend payout ratio (DPR) is currently 51.47%.

Insiders Place Their Bets

In other news, insider Matthew T. Clark sold 1,500 shares of Princeton Bancorp stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $32.62, for a total value of $48,930.00. Following the sale, the insider owned 81 shares of the company’s stock, valued at $2,642.22. The trade was a 94.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Tuchman purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were purchased at an average cost of $33.00 per share, with a total value of $165,000.00. Following the completion of the acquisition, the director directly owned 7,548 shares of the company’s stock, valued at $249,084. This represents a 196.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 8,108 shares of company stock worth $265,372. 23.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Princeton Bancorp

Large investors have recently modified their holdings of the business. Strs Ohio lifted its holdings in shares of Princeton Bancorp by 1,500.0% in the 4th quarter. Strs Ohio now owns 9,600 shares of the company’s stock valued at $333,000 after buying an additional 9,000 shares during the period. Farther Finance Advisors LLC purchased a new position in Princeton Bancorp in the fourth quarter worth $282,000. JPMorgan Chase & Co. lifted its holdings in 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 during the period. Focus Partners Wealth acquired a new stake in Princeton Bancorp in the third quarter valued at $319,000. Finally, Alliancebernstein L.P. boosted its position in shares of Princeton Bancorp by 1.0% during the 3rd quarter. Alliancebernstein L.P. now owns 561,737 shares of the company’s stock worth $17,886,000 after purchasing an additional 5,810 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.