Princeton Bancorp (NASDAQ:BPRN) Stock Price Up 0.5% – What’s Next?
by Danessa Lincoln · The Markets DailyPrinceton Bancorp, Inc. (NASDAQ:BPRN – Get Free Report)’s share price was up 0.5% on Thursday . The stock traded as high as $35.39 and last traded at $34.87. Approximately 9,593 shares changed hands 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 Analyst Weigh In
Several brokerages have recently commented on BPRN. Hovde Group lifted their target price 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 shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Finally, Zacks Research lowered shares of Princeton Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.
Read Our Latest Stock Analysis on BPRN
Princeton Bancorp Stock Down 2.6%
The stock has a market capitalization of $229.64 million, a price-to-earnings ratio of 12.49 and a beta of 0.53. The stock has a 50 day moving average price of $35.69 and a 200 day moving average price of $33.75.
Princeton Bancorp (NASDAQ:BPRN – Get Free Report) last released 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 firm had revenue of $20.75 million for the quarter, compared to analysts’ expectations of $21.03 million. Sell-side analysts forecast that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.
Princeton Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 4th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.40 annualized dividend and a dividend yield of 4.1%. Princeton Bancorp’s dividend payout ratio is presently 51.47%.
Institutional Trading of Princeton Bancorp
Several institutional investors have recently added to or reduced their stakes in BPRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Princeton Bancorp by 14.7% during the 1st 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 during the last quarter. Empowered Funds LLC increased its position 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 buying an additional 1,169 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 worth $479,000 after buying an additional 3,044 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Princeton Bancorp by 1.2% in the second quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock valued at $3,890,000 after buying an additional 1,542 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Princeton Bancorp during the second quarter valued at $38,000. 43.36% of the stock is currently owned by institutional investors.
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.