Princeton Bancorp (NASDAQ:BPRN) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Princeton Bancorp (NASDAQ:BPRN) released its earnings results on Thursday. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07, Zacks reports. The business had revenue of $21.31 million for the quarter, compared to analyst estimates of $21.06 million. Princeton Bancorp had a return on equity of 6.93% and a net margin of 13.39%.

Princeton Bancorp Trading Up 0.6%

Shares of BPRN traded up $0.22 during mid-day trading on Thursday, reaching $35.23. The company’s stock had a trading volume of 7,069 shares, compared to its average volume of 14,499. Princeton Bancorp has a 1-year low of $28.01 and a 1-year high of $37.99. The stock has a market cap of $239.18 million, a P/E ratio of 12.95 and a beta of 0.49. The business has a 50-day simple moving average of $34.54 and a two-hundred day simple moving average of $34.21.

Princeton Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 5th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, May 5th. Princeton Bancorp’s dividend payout ratio (DPR) is presently 51.47%.

Hedge Funds Weigh In On Princeton Bancorp

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Princeton Bancorp by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 127,621 shares of the company’s stock worth $4,428,000 after purchasing an additional 659 shares during the period. First Manhattan CO. LLC. increased its stake in shares of Princeton Bancorp by 21.1% during the fourth quarter. First Manhattan CO. LLC. now owns 42,990 shares of the company’s stock worth $1,491,000 after purchasing an additional 7,500 shares during the period. Empowered Funds LLC increased its stake in shares of Princeton Bancorp by 3.6% during the first quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,169 shares during the period. Millennium Management LLC increased its stake in shares of Princeton Bancorp by 54.6% during the fourth quarter. Millennium Management LLC now owns 13,779 shares of the company’s stock worth $478,000 after purchasing an additional 4,868 shares during the period. Finally, Barclays PLC increased its stake in shares of Princeton Bancorp by 30.6% during the fourth quarter. Barclays PLC now owns 12,647 shares of the company’s stock worth $439,000 after purchasing an additional 2,961 shares during the period. Institutional investors own 43.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BPRN shares. Weiss Ratings raised Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Hovde Group raised their price objective on Princeton Bancorp from $35.00 to $37.50 and gave the company a “market perform” rating in a research report on Tuesday, February 3rd. Finally, Zacks Research raised Princeton Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

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.