Princeton Bancorp (NASDAQ:BPRN) Releases Earnings Results, Misses Expectations By $0.04 EPS

Princeton Bancorp (NASDAQ:BPRN) announced its earnings results 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 during the quarter, compared to analysts’ expectations of $21.03 million.

Princeton Bancorp Trading Up 1.7%

BPRN stock traded up $0.61 during mid-day trading on Thursday, reaching $36.88. The company’s stock had a trading volume of 8,205 shares, compared to its average volume of 15,200. The company has a market cap of $249.31 million, a price-to-earnings ratio of 14.35 and a beta of 0.53. The business’s 50 day moving average price is $35.16 and its 200 day moving average price is $33.11. Princeton Bancorp has a 12 month low of $27.25 and a 12 month high of $37.99.

Princeton Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

BPRN has been the topic of several research analyst reports. Weiss Ratings raised shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Janney Montgomery Scott raised shares of 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 report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $35.00.

Insiders Place Their Bets

In other Princeton Bancorp news, insider Matthew T. Clark sold 1,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $32.62, for a total transaction of $48,930.00. Following the sale, the insider owned 81 shares in the company, valued at $2,642.22. This represents a 94.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan Barrett purchased 1,600 shares of the stock in a transaction dated Monday, November 3rd. The stock was purchased at an average cost of $31.50 per share, for a total transaction of $50,400.00. Following the completion of the acquisition, the director owned 4,542 shares of the company’s stock, valued at approximately $143,073. This represents a 54.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 12,204 shares of company stock worth $396,639. Insiders own 21.90% of the company’s stock.

Hedge Funds Weigh In On Princeton Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Princeton Bancorp in the second quarter valued at $61,000. Tower Research Capital LLC TRC boosted its holdings in Princeton Bancorp by 584.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock worth $67,000 after acquiring an additional 1,871 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Princeton Bancorp by 14.7% during 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 last quarter. JPMorgan Chase & Co. lifted 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 valued at $219,000 after acquiring an additional 892 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Princeton Bancorp during the 3rd quarter valued at about $319,000. 43.36% of the stock is owned by institutional investors.

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.