Princeton Bancorp (NASDAQ:BPRN) Trading 0.5% Higher – Here’s What Happened

Princeton Bancorp, Inc. (NASDAQ:BPRN)’s share price was up 0.5% on Thursday . The company traded as high as $35.39 and last traded at $34.87. Approximately 9,593 shares were traded during trading, a decline of 50% from the average daily volume of 19,039 shares. The stock had previously closed at $34.69.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BPRN. Hovde Group boosted their price objective on Princeton Bancorp from $35.00 to $37.50 and gave the stock a “market perform” rating in a research note on Tuesday, February 3rd. Weiss Ratings raised Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Finally, Zacks Research cut Princeton Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

Princeton Bancorp Trading Up 0.5%

The company has a market capitalization of $235.72 million, a price-to-earnings ratio of 12.82 and a beta of 0.53. The stock has a 50-day simple moving average of $35.72 and a 200-day simple moving average of $33.73.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). The firm had revenue of $20.75 million for the quarter, compared to analyst estimates of $21.03 million. On average, research analysts forecast that Princeton Bancorp, Inc. will post 3.35 EPS for the current year.

Princeton Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.40 annualized dividend and a dividend yield of 4.0%. Princeton Bancorp’s dividend payout ratio (DPR) is presently 51.47%.

Institutional Investors Weigh In On Princeton Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Princeton Bancorp by 14.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after purchasing an additional 431 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Princeton Bancorp by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 127,621 shares of the company’s stock valued at $4,428,000 after purchasing an additional 659 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Princeton Bancorp by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock valued at $219,000 after buying an additional 892 shares during the last quarter. Empowered Funds LLC raised its holdings 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 valued at $1,037,000 after buying an additional 1,169 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Princeton Bancorp during the second quarter worth approximately $38,000. 43.36% of the stock is owned by institutional investors and hedge funds.

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.