Princeton Bancorp (NASDAQ:BPRN) Price Target Raised to $37.50

Princeton Bancorp (NASDAQ:BPRN) had its price objective raised by research analysts at Hovde Group from $35.00 to $37.50 in a research report issued on Tuesday. The brokerage presently has a “market perform” rating on the stock.

A number of other research analysts have also commented on BPRN. Zacks Research lowered Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings upgraded shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Finally, Janney Montgomery Scott raised shares of Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Princeton Bancorp has an average rating of “Moderate Buy” and a consensus target price of $36.25.

Princeton Bancorp Stock Up 3.5%

Princeton Bancorp stock opened at $37.50 on Tuesday. The company’s 50-day moving average price is $35.39 and its two-hundred day moving average price is $33.21. The stock has a market cap of $253.50 million, a P/E ratio of 13.79 and a beta of 0.53. Princeton Bancorp has a twelve month low of $27.25 and a twelve month high of $37.99.

Princeton Bancorp (NASDAQ:BPRN) last posted its earnings results on Thursday, January 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.04). The firm had revenue of $20.75 million during the quarter, compared to the consensus estimate of $21.03 million. Equities analysts anticipate that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Martin Tuchman purchased 2,000 shares of Princeton Bancorp stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average price of $32.30 per share, for a total transaction of $64,600.00. Following the transaction, the director owned 13,604 shares of the company’s stock, valued at approximately $439,409.20. The trade was a 17.24% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Matthew T. Clark sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $32.62, for a total transaction of $48,930.00. Following the transaction, the insider owned 81 shares of the company’s stock, valued at approximately $2,642.22. This represents a 94.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have bought 8,604 shares of company stock valued at $281,739. 21.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Princeton Bancorp by 14.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after buying an additional 431 shares during the period. Empowered Funds LLC boosted its position in Princeton Bancorp by 3.6% during the 1st quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock worth $1,037,000 after buying an additional 1,169 shares during the period. Roundview Capital LLC grew its holdings in Princeton Bancorp by 14.9% during the 2nd quarter. Roundview Capital LLC now owns 61,792 shares of the company’s stock worth $1,887,000 after acquiring an additional 8,000 shares during the last quarter. SilverOak Wealth Management LLC acquired a new position in Princeton Bancorp in the 2nd quarter valued at approximately $232,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Princeton Bancorp by 24.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,688 shares of the company’s stock valued at $479,000 after acquiring an additional 3,044 shares during the last quarter. Institutional investors own 43.36% of the company’s stock.

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.