Princeton Bancorp (NASDAQ:BPRN) Shares Up 1.1% – Still a Buy?

Princeton Bancorp, Inc. (NASDAQ:BPRN)’s share price rose 1.1% during trading on Monday . The company traded as high as $36.00 and last traded at $35.71. Approximately 12,102 shares traded hands during trading, an increase of 12% from the average daily volume of 10,788 shares. The stock had previously closed at $35.32.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BPRN. Janney Montgomery Scott upgraded shares of Princeton Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Zacks Research lowered shares of Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Princeton Bancorp in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.00.

Princeton Bancorp Stock Performance

The stock’s 50-day simple moving average is $33.22 and its 200 day simple moving average is $32.27. The company has a market capitalization of $241.39 million, a PE ratio of 13.89 and a beta of 0.52.

Princeton Bancorp (NASDAQ:BPRN) last issued its earnings results on Wednesday, October 29th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $21.53 million for the quarter, compared to analyst estimates of $20.33 million. On average, analysts expect that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current year.

Princeton Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, November 7th. This is an increase from Princeton Bancorp’s previous quarterly dividend of $0.30. Princeton Bancorp’s dividend payout ratio (DPR) is currently 54.47%.

Insider Buying and Selling

In related news, Director Martin Tuchman acquired 2,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were bought at an average price of $32.30 per share, with a total value of $64,600.00. Following the completion of the acquisition, the director owned 13,604 shares in the company, valued at $439,409.20. This trade represents a 17.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Barrett acquired 1,600 shares of Princeton Bancorp stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $31.50 per share, with a total value of $50,400.00. Following the transaction, the director directly owned 4,542 shares in the company, valued at approximately $143,073. The trade was a 54.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 12,204 shares of company stock worth $396,639 over the last 90 days. 23.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Princeton Bancorp

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Princeton Bancorp by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,573 shares of the company’s stock worth $445,000 after buying an additional 500 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Princeton Bancorp by 24.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,688 shares of the company’s stock worth $479,000 after acquiring an additional 3,044 shares during the period. Roundview Capital LLC grew its stake in shares of Princeton Bancorp by 14.9% in the 2nd quarter. Roundview Capital LLC now owns 61,792 shares of the company’s stock valued at $1,887,000 after purchasing an additional 8,000 shares during the last quarter. Nuveen LLC acquired a new position in shares of Princeton Bancorp in the first quarter valued at approximately $229,000. Finally, SilverOak Wealth Management LLC purchased a new stake in shares of Princeton Bancorp during the second quarter worth approximately $232,000. 43.36% of the stock is owned by institutional investors and hedge funds.

Princeton Bancorp Company Profile

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.