Insider Selling: Princeton Bancorp (NASDAQ:BPRN) Director Sells $364,028.48 in Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Stephen Distler sold 8,776 shares of the company’s stock in a transaction dated 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 owned 83,220 shares in the company, valued at $3,451,965.60. This represents a 9.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Princeton Bancorp Stock Performance

Shares of NASDAQ BPRN opened at $42.12 on Thursday. The stock has a market cap of $286.84 million, a price-to-earnings ratio of 11.08 and a beta of 0.47. Princeton Bancorp, Inc. has a fifty-two week low of $29.69 and a fifty-two week high of $43.93. The firm’s 50-day simple moving average is $38.12 and its 200 day simple moving average is $36.18.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.16. Princeton Bancorp had a return on equity of 9.57% and a net margin of 18.99%.The firm had revenue of $22.48 million during the quarter, compared to analyst estimates of $21.84 million. On average, sell-side analysts predict that Princeton Bancorp, Inc. will post 3.88 EPS for the current year.

Princeton Bancorp Announces Dividend

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

Hedge Funds Weigh In On Princeton Bancorp

Several institutional investors have recently modified their holdings of BPRN. NewEdge Advisors LLC purchased a new stake in shares of Princeton Bancorp during the first quarter valued at approximately $30,000. Raymond James Financial Inc. purchased a new position in Princeton Bancorp in the second quarter worth $61,000. Tower Research Capital LLC TRC grew its stake in Princeton Bancorp by 584.7% in the 2nd 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 valued at $103,000 after purchasing an additional 431 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Princeton Bancorp by 50.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,855 shares of the company’s stock valued at $203,000 after purchasing an additional 1,953 shares during the last quarter. 43.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

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.