Princeton Bancorp (NASDAQ:BPRN) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Princeton Bancorp (NASDAQ:BPRN) issued its quarterly earnings data on Tuesday. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.04), FiscalAI reports. The company had revenue of $20.75 million for the quarter, compared to analysts’ expectations of $21.03 million.

Princeton Bancorp Stock Up 1.7%

Shares of NASDAQ:BPRN traded up $0.61 during trading on Thursday, hitting $36.88. 8,205 shares of the company were exchanged, compared to its average volume of 15,200. Princeton Bancorp has a 1-year low of $27.25 and a 1-year high of $37.99. The business’s 50 day moving average is $35.16 and its 200-day moving average is $33.11. The company has a market capitalization of $249.31 million, a P/E ratio of 14.35 and a beta of 0.53.

Princeton Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 4th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.40 annualized dividend and a yield of 3.8%. Princeton Bancorp’s dividend payout ratio is presently 54.47%.

Insider Buying and Selling at Princeton Bancorp

In other news, Director Susan Barrett purchased 1,600 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average price of $31.50 per share, with a total value of $50,400.00. Following the completion of the transaction, the director owned 4,542 shares of the company’s stock, valued at $143,073. The trade was a 54.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Tuchman purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were purchased at an average cost of $32.30 per share, for a total transaction of $64,600.00. Following the completion of the purchase, the director owned 13,604 shares in the company, valued at $439,409.20. This trade represents a 17.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 12,204 shares of company stock worth $396,639. Insiders own 21.90% of the company’s stock.

Institutional Investors Weigh In On Princeton Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its holdings in shares of Princeton Bancorp by 2.4% in the 2nd quarter. Alliancebernstein L.P. now owns 555,927 shares of the company’s stock worth $16,978,000 after buying an additional 13,280 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Princeton Bancorp during the third quarter valued at about $319,000. Dimensional Fund Advisors LP grew its position in Princeton Bancorp by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 144,827 shares of the company’s stock worth $4,611,000 after acquiring an additional 2,505 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Princeton Bancorp in the second quarter worth approximately $61,000. Finally, Tower Research Capital LLC TRC increased 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 acquiring an additional 1,871 shares during the period. 43.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on BPRN. Weiss Ratings raised shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Janney Montgomery Scott raised Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research lowered Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Princeton Bancorp presently has a consensus rating of “Buy” and an average price target of $35.00.

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.