Princeton Bancorp (NASDAQ:BPRN) Announces Earnings Results, Beats Expectations By $0.14 EPS

Princeton Bancorp (NASDAQ:BPRN) posted its earnings results on Thursday. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.14, FiscalAI reports. Princeton Bancorp had a return on equity of 7.20% and a net margin of 14.20%.The business had revenue of $22.48 million during the quarter, compared to analysts’ expectations of $21.84 million.

Princeton Bancorp Stock Performance

Shares of Princeton Bancorp stock traded up $0.28 during mid-day trading on Thursday, hitting $37.97. 11,460 shares of the stock were exchanged, compared to its average volume of 13,723. Princeton Bancorp has a 12 month low of $29.69 and a 12 month high of $39.47. The company has a 50-day simple moving average of $36.88 and a 200 day simple moving average of $35.74. The company has a market capitalization of $258.58 million, a P/E ratio of 13.28 and a beta of 0.48.

Princeton Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, August 5th. Princeton Bancorp’s payout ratio is currently 48.95%.

Analyst Upgrades and Downgrades

BPRN has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 12th. Zacks Research raised shares of Princeton Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Insider Activity

In related news, insider Stephanie Adkins sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $35.04, for a total transaction of $56,064.00. Following the completion of the sale, the insider owned 21,272 shares in the company, valued at approximately $745,370.88. This trade represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 23.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Princeton Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of BPRN. Raymond James Financial Inc. bought a new position in Princeton Bancorp in the 2nd quarter worth approximately $61,000. Tower Research Capital LLC TRC grew its position in shares of Princeton Bancorp by 584.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock valued at $67,000 after purchasing an additional 1,871 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Princeton Bancorp by 14.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after purchasing an additional 431 shares during the period. Wells Fargo & Company MN lifted its holdings in Princeton Bancorp by 50.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,855 shares of the company’s stock worth $203,000 after purchasing an additional 1,953 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Princeton Bancorp in the 4th quarter worth about $211,000. Institutional investors own 43.36% of the company’s stock.

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.