Princeton Bancorp (NASDAQ:BPRN) Raised to Hold at Zacks Research

Princeton Bancorp (NASDAQ:BPRN) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on BPRN. Hovde Group upped their price target 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. Weiss Ratings raised Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

Princeton Bancorp Price Performance

Shares of BPRN stock traded up $0.51 on Monday, hitting $35.11. 2,721 shares of the stock traded hands, compared to its average volume of 15,241. The company has a market capitalization of $238.57 million, a PE ratio of 12.91 and a beta of 0.49. Princeton Bancorp has a 1-year low of $27.25 and a 1-year high of $37.99. The company’s fifty day moving average is $34.73 and its 200 day moving average is $33.92.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Princeton Bancorp in the second quarter worth $61,000. Tower Research Capital LLC TRC grew its stake in shares of Princeton Bancorp by 584.7% in the second 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $103,000 after purchasing an additional 431 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Princeton Bancorp by 50.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,855 shares of the company’s stock worth $203,000 after purchasing an additional 1,953 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Princeton Bancorp in the fourth quarter worth $211,000. Institutional investors own 43.36% of the company’s stock.

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.