Martin Tuchman Acquires 2,000 Shares of Princeton Bancorp (NASDAQ:BPRN) Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average cost of $32.25 per share, with a total value of $64,500.00. Following the acquisition, the director directly owned 2,000 shares in the company, valued at $64,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Martin Tuchman also recently made the following trade(s):

• On Wednesday, November 5th, Martin Tuchman acquired 3 shares of Princeton Bancorp stock. The shares were bought at an average cost of $32.60 per share, with a total value of $97.80.
• On Monday, September 8th, Martin Tuchman acquired 10,000 shares of Princeton Bancorp stock. The shares were bought at an average cost of $33.00 per share, with a total value of $330,000.00.

Princeton Bancorp Stock Performance

Shares of BPRN traded up $0.46 during midday trading on Thursday, hitting $33.43. 4,147 shares of the company traded hands, compared to its average volume of 9,773. Princeton Bancorp, Inc. has a 52 week low of $27.25 and a 52 week high of $38.95. The firm has a 50 day moving average of $31.76 and a 200-day moving average of $31.43. The stock has a market cap of $225.55 million, a price-to-earnings ratio of 13.01 and a beta of 0.65.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $21.53 million during the quarter, compared to the consensus estimate of $20.33 million. Sell-side analysts predict that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Princeton Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be given a $0.35 dividend. This is an increase from Princeton Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.40 dividend on an annualized basis and a yield of 4.2%. Princeton Bancorp’s dividend payout ratio is currently 54.47%.

Wall Street Analyst Weigh In

BPRN has been the topic of a number of recent analyst reports. Zacks Research raised shares of Princeton Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Janney Montgomery Scott raised shares of Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Princeton Bancorp in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $37.50.

Institutional Investors Weigh In On Princeton Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its position in shares of Princeton Bancorp by 584.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock worth $67,000 after purchasing an additional 1,871 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Princeton Bancorp during the 2nd quarter worth approximately $61,000. Alliancebernstein L.P. raised its holdings in shares of Princeton Bancorp by 2.4% in the 2nd quarter. Alliancebernstein L.P. now owns 555,927 shares of the company’s stock valued at $16,978,000 after purchasing an additional 13,280 shares in the last quarter. Fourthstone LLC grew its position in shares of Princeton Bancorp by 103.4% in the 2nd quarter. Fourthstone LLC now owns 20,454 shares of the company’s stock valued at $625,000 after buying an additional 10,400 shares during the last quarter. Finally, Systematic Financial Management LP grew its position in shares of Princeton Bancorp by 1.0% in the 2nd quarter. Systematic Financial Management LP now owns 345,247 shares of the company’s stock valued at $10,544,000 after buying an additional 3,269 shares during the last quarter. 43.36% of the stock is currently owned by institutional investors and hedge funds.

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.