Martin Tuchman Buys 10,534 Shares of Princeton Bancorp (NASDAQ:BPRN) Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman acquired 10,534 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $42.98 per share, for a total transaction of $452,751.32. Following the acquisition, the director directly owned 24,138 shares in the company, valued at $1,037,451.24. This represents a 77.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Princeton Bancorp Stock Performance

Shares of BPRN opened at $43.47 on Friday. Princeton Bancorp, Inc. has a one year low of $29.69 and a one year high of $43.93. The stock has a 50-day moving average price of $39.16 and a 200 day moving average price of $36.48. The company has a market capitalization of $296.03 million, a P/E ratio of 11.44 and a beta of 0.47.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.16. The business had revenue of $22.48 million during the quarter, compared to the consensus estimate of $21.84 million. Princeton Bancorp had a net margin of 18.99% and a return on equity of 9.48%. As a group, equities research analysts forecast that Princeton Bancorp, Inc. will post 3.88 earnings per share for the current fiscal year.

Princeton Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 5th. Princeton Bancorp’s dividend payout ratio (DPR) is currently 36.84%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Princeton Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Hedge Funds Weigh In On Princeton Bancorp

Several institutional investors have recently modified their holdings of BPRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Princeton Bancorp by 14.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock worth $103,000 after acquiring an additional 431 shares during the period. Geode Capital Management LLC boosted its stake in Princeton Bancorp by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 127,621 shares of the company’s stock valued at $4,428,000 after purchasing an additional 659 shares during the period. NewEdge Advisors LLC bought a new position in Princeton Bancorp in the 1st quarter worth about $30,000. JPMorgan Chase & Co. grew its position in Princeton Bancorp by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock worth $219,000 after purchasing an additional 892 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Princeton Bancorp by 3.6% during the first quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock valued at $1,037,000 after buying an additional 1,169 shares during the last quarter. Institutional investors own 43.36% of the company’s stock.

About Princeton Bancorp

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.