Zacks Research Downgrades Princeton Bancorp (NASDAQ:BPRN) to Hold

Princeton Bancorp (NASDAQ:BPRN) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

BPRN has been the subject of a number of other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Princeton Bancorp in a report on Wednesday, October 8th. Janney Montgomery Scott upgraded shares of Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Princeton Bancorp Trading Up 2.3%

BPRN opened at $34.51 on Tuesday. The firm’s 50 day simple moving average is $31.80 and its two-hundred day simple moving average is $31.76. The company has a market capitalization of $233.29 million, a PE ratio of 13.43 and a beta of 0.65. Princeton Bancorp has a 1-year low of $27.25 and a 1-year high of $38.78.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $21.53 million for the quarter, compared to analysts’ expectations of $20.33 million. Equities analysts forecast that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Susan Barrett bought 1,600 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average cost of $31.50 per share, with a total value of $50,400.00. Following the transaction, the director directly owned 4,542 shares in the company, valued at approximately $143,073. This trade represents a 54.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have acquired 22,204 shares of company stock worth $726,639. 23.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Princeton Bancorp

Hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its position in shares of Princeton Bancorp by 1.0% in the 3rd quarter. Alliancebernstein L.P. now owns 561,737 shares of the company’s stock worth $17,886,000 after buying an additional 5,810 shares during the last quarter. Systematic Financial Management LP boosted its stake in Princeton Bancorp by 1.0% in the second quarter. Systematic Financial Management LP now owns 345,247 shares of the company’s stock valued at $10,544,000 after acquiring an additional 3,269 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Princeton Bancorp by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 144,827 shares of the company’s stock worth $4,611,000 after purchasing an additional 2,505 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Princeton Bancorp by 1.2% during the second quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock worth $3,890,000 after purchasing an additional 1,542 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Princeton Bancorp by 14.3% during the 3rd quarter. Royce & Associates LP now owns 80,366 shares of the company’s stock valued at $2,559,000 after purchasing an additional 10,032 shares during the last quarter. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

Princeton Bancorp Company Profile

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.