Princeton Bancorp (NASDAQ:BPRN) Releases Quarterly Earnings Results, Misses Estimates By $0.83 EPS

Princeton Bancorp (NASDAQ:BPRN) released its earnings results on Wednesday. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.83), FiscalAI reports. The firm had revenue of $22.47 million during the quarter, compared to analysts’ expectations of $22.35 million. Princeton Bancorp had a net margin of 18.99% and a return on equity of 9.48%.

Princeton Bancorp Trading Down 0.4%

Shares of NASDAQ:BPRN traded down $0.20 on Wednesday, reaching $44.63. 21,566 shares of the company were exchanged, compared to its average volume of 18,783. The company has a 50-day moving average of $43.27 and a 200-day moving average of $38.19. Princeton Bancorp has a 1-year low of $30.38 and a 1-year high of $46.33. The firm has a market cap of $303.93 million, a price-to-earnings ratio of 11.74 and a beta of 0.47.

Insiders Place Their Bets

In other news, Director Stephen Distler sold 8,776 shares of Princeton Bancorp stock in a transaction 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 transaction, the director owned 83,220 shares of the company’s stock, valued at $3,451,965.60. The trade was a 9.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Matthew Clark sold 1,428 shares of Princeton Bancorp stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $41.95, for a total transaction of $59,904.60. Following the transaction, the insider owned 1,428 shares of the company’s stock, valued at approximately $59,904.60. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 23.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Princeton Bancorp in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.50.

About Princeton Bancorp

Princeton Bancorp, Inc is a bank holding company headquartered in Princeton, New Jersey. Its principal subsidiary, The Bank of Princeton, provides banking services to individuals, businesses and organizations through its community banking franchise.

The Bank of Princeton offers deposit products, residential and commercial real estate loans, commercial and industrial financing, construction lending, consumer loans and other traditional banking services. It also provides online and mobile banking tools, treasury management and related services designed to support business and personal financial needs.

Founded in 2007, The Bank of Princeton serves communities in central New Jersey and the greater Philadelphia region, including southern New Jersey and nearby Pennsylvania markets.