Insider Buying: Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Buys 22,000 Shares of Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman acquired 22,000 shares of Princeton Bancorp stock in a transaction on Tuesday, February 11th. The shares were purchased at an average cost of $32.71 per share, for a total transaction of $719,620.00. Following the acquisition, the director now owns 629,141 shares in the company, valued at approximately $20,579,202.11. This represents a 3.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Princeton Bancorp Stock Performance

Shares of Princeton Bancorp stock opened at $31.35 on Thursday. The firm has a fifty day moving average of $34.17 and a two-hundred day moving average of $35.84. The stock has a market capitalization of $214.75 million, a price-to-earnings ratio of 18.66 and a beta of 0.59. Princeton Bancorp, Inc. has a 52 week low of $29.02 and a 52 week high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.11). As a group, research analysts forecast that Princeton Bancorp, Inc. will post 3.35 EPS for the current fiscal year.

Princeton Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Wednesday, February 5th. Princeton Bancorp’s payout ratio is 71.43%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BPRN. Janney Montgomery Scott raised Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Tuesday, February 4th. Hovde Group initiated coverage on shares of Princeton Bancorp in a research report on Tuesday, November 19th. They set a “market perform” rating and a $40.00 target price on the stock.

Hedge Funds Weigh In On Princeton Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in BPRN. Banc Funds Co. LLC raised its stake in Princeton Bancorp by 10.3% in the 3rd quarter. Banc Funds Co. LLC now owns 340,716 shares of the company’s stock valued at $12,600,000 after acquiring an additional 31,700 shares during the period. Systematic Financial Management LP grew its holdings in shares of Princeton Bancorp by 11.1% during the 3rd quarter. Systematic Financial Management LP now owns 318,772 shares of the company’s stock worth $11,788,000 after purchasing an additional 31,777 shares in the last quarter. Geode Capital Management LLC grew its stake in Princeton Bancorp by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 116,891 shares of the company’s stock worth $4,025,000 after buying an additional 3,890 shares in the last quarter. State Street Corp increased its stake in Princeton Bancorp by 1.0% in the third quarter. State Street Corp now owns 70,670 shares of the company’s stock valued at $2,613,000 after acquiring an additional 733 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Princeton Bancorp by 1.9% during the 4th quarter. Empowered Funds LLC now owns 32,772 shares of the company’s stock worth $1,128,000 after buying an additional 600 shares in the last quarter. 43.36% of the stock is owned by institutional investors.

About Princeton Bancorp

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.