Insider Buying: Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Acquires 22,000 Shares of Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman purchased 22,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $32.71 per share, with a total value of $719,620.00. Following the completion of the acquisition, the director now owns 629,141 shares in the company, valued at $20,579,202.11. This represents a 3.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Princeton Bancorp Stock Down 2.8 %

Shares of NASDAQ:BPRN traded down $0.89 during trading on Wednesday, reaching $31.35. 5,609 shares of the company traded hands, compared to its average volume of 8,593. The firm has a fifty day simple moving average of $34.17 and a 200 day simple moving average of $35.84. The firm has a market cap of $214.75 million, a P/E ratio of 18.66 and a beta of 0.59. Princeton Bancorp, Inc. has a 1-year low of $29.02 and a 1-year high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last announced its earnings results on Tuesday, January 28th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.11). As a group, research analysts anticipate that Princeton Bancorp, Inc. will post 3.35 EPS for the current year.

Princeton Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, February 5th. Princeton Bancorp’s dividend payout ratio (DPR) is 71.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BPRN. Banc Funds Co. LLC lifted its stake in Princeton Bancorp by 10.3% in the third quarter. Banc Funds Co. LLC now owns 340,716 shares of the company’s stock valued at $12,600,000 after acquiring an additional 31,700 shares during the last quarter. Systematic Financial Management LP increased its holdings in Princeton Bancorp by 11.1% in the 3rd quarter. Systematic Financial Management LP now owns 318,772 shares of the company’s stock valued at $11,788,000 after buying an additional 31,777 shares during the period. Geode Capital Management LLC grew its holdings in Princeton Bancorp by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 116,891 shares of the company’s stock worth $4,025,000 after acquiring an additional 3,890 shares during the last quarter. State Street Corp lifted its position in shares of Princeton Bancorp by 1.0% in the 3rd quarter. State Street Corp now owns 70,670 shares of the company’s stock worth $2,613,000 after purchasing an additional 733 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Princeton Bancorp by 1.9% during the 4th quarter. Empowered Funds LLC now owns 32,772 shares of the company’s stock valued at $1,128,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 43.36% of the company’s stock.

Wall Street Analyst Weigh In

BPRN has been the topic of several research analyst reports. Hovde Group initiated coverage on shares of Princeton Bancorp in a research report on Tuesday, November 19th. They set a “market perform” rating and a $40.00 price target on the stock. Janney Montgomery Scott upgraded shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Tuesday, February 4th.

About Princeton Bancorp

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.