Princeton Bancorp (NASDAQ:BPRN) Now Covered by Hovde Group

Hovde Group initiated coverage on shares of Princeton Bancorp (NASDAQ:BPRN) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “market perform” rating and a $40.00 price target on the stock. Hovde Group’s target price indicates a potential upside of 8.93% from the company’s previous close.

Princeton Bancorp Stock Performance

BPRN stock opened at $36.72 on Tuesday. The company’s fifty day moving average price is $36.93 and its 200-day moving average price is $34.72. Princeton Bancorp has a one year low of $29.02 and a one year high of $39.35. The company has a market capitalization of $251.53 million, a PE ratio of 20.98 and a beta of 0.59.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The business had revenue of $33.87 million for the quarter, compared to analyst estimates of $19.30 million. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, research analysts predict that Princeton Bancorp will post 2.98 EPS for the current fiscal year.

Institutional Trading of Princeton Bancorp

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Princeton Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 301,721 shares of the company’s stock valued at $9,287,000 after acquiring an additional 1,810 shares during the last quarter. Quadrature Capital Ltd bought a new position in Princeton Bancorp during the first quarter valued at $441,000. Bank of New York Mellon Corp grew its stake in shares of Princeton Bancorp by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 24,894 shares of the company’s stock worth $824,000 after buying an additional 321 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Princeton Bancorp by 1.5% in the 2nd quarter. Acadian Asset Management LLC now owns 79,958 shares of the company’s stock worth $2,644,000 after buying an additional 1,202 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Princeton Bancorp by 66.5% in the 2nd quarter. LSV Asset Management now owns 24,635 shares of the company’s stock worth $815,000 after buying an additional 9,835 shares during the last quarter. Institutional investors own 43.36% of the company’s stock.

Princeton Bancorp Company Profile

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.