Basswood Capital Management L.L.C. Buys Shares of 97,529 Princeton Bancorp, Inc. $BPRN

Basswood Capital Management L.L.C. bought a new position in Princeton Bancorp, Inc. (NASDAQ:BPRN) during the 2nd quarter, Holdings Channel.com reports. The fund bought 97,529 shares of the company’s stock, valued at approximately $3,701,000.

A number of other large investors have also made changes to their positions in BPRN. NewEdge Advisors LLC bought a new stake in shares of Princeton Bancorp during the 1st quarter valued at about $30,000. Raymond James Financial Inc. bought a new position in shares of Princeton Bancorp in the 2nd quarter worth approximately $61,000. Tower Research Capital LLC TRC lifted its stake in shares of Princeton Bancorp by 584.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock worth $67,000 after purchasing an additional 1,871 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Princeton Bancorp by 14.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock worth $103,000 after buying an additional 431 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Princeton Bancorp in the second quarter worth approximately $189,000. 43.36% of the stock is currently owned by institutional investors.

Princeton Bancorp Stock Performance

Shares of Princeton Bancorp stock opened at $42.29 on Thursday. The stock has a market cap of $288.12 million, a P/E ratio of 11.13 and a beta of 0.47. The stock’s fifty day moving average is $40.08 and its 200 day moving average is $36.79. Princeton Bancorp, Inc. has a one year low of $29.69 and a one year high of $43.93.

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

Princeton Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 5th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 5th. Princeton Bancorp’s payout ratio is presently 36.84%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. One 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 stock. Based on data from MarketBeat.com, Princeton Bancorp has an average rating of “Moderate Buy” and an average price target of $37.50.

Insider Buying and Selling

In related news, insider Stephanie Adkins sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $35.04, for a total transaction of $56,064.00. Following the completion of the transaction, the insider directly owned 21,272 shares in the company, valued at approximately $745,370.88. The trade was a 7.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen Distler sold 8,776 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $41.48, for a total transaction of $364,028.48. Following the completion of the sale, the director directly owned 83,220 shares of the company’s stock, valued at $3,451,965.60. This represents a 9.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 11,804 shares of company stock valued at $479,997. Insiders own 23.10% 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.