Princeton Bancorp (NASDAQ:BPRN) Announces Earnings Results, Misses Estimates By $0.04 EPS

by · The Markets Daily

Princeton Bancorp (NASDAQ:BPRN – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04), FiscalAI reports. The business had revenue of $20.75 million during the quarter, compared to analysts’ expectations of $21.03 million.

Princeton Bancorp Stock Performance

Shares of NASDAQ BPRN traded up $0.61 during mid-day trading on Thursday, reaching $36.88. The company had a trading volume of 8,205 shares, compared to its average volume of 15,200. The stock has a market capitalization of $249.31 million, a PE ratio of 14.35 and a beta of 0.53. Princeton Bancorp has a twelve month low of $27.25 and a twelve month high of $37.99. The stock’s 50 day moving average is $35.16 and its 200-day moving average is $33.11.

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 issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, February 4th. Princeton Bancorp’s payout ratio is currently 54.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 23rd. Zacks Research cut shares of Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Janney Montgomery Scott upgraded Princeton Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Princeton Bancorp currently has an average rating of “Buy” and a consensus target price of $35.00.

View Our Latest Research Report on Princeton Bancorp

Insiders Place Their Bets

In other Princeton Bancorp news, Director Susan Barrett acquired 1,600 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average price of $31.50 per share, with a total value of $50,400.00. Following the completion of the transaction, the director owned 4,542 shares in the company, valued at $143,073. The trade was a 54.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Martin Tuchman bought 5,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average cost of $33.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 7,548 shares of the company’s stock, valued at approximately $249,084. This represents a 196.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 12,204 shares of company stock valued at $396,639 in the last three months. Insiders own 21.90% of the company’s stock.

Hedge Funds Weigh In On Princeton Bancorp

Several institutional investors have recently bought and sold shares of BPRN. Focus Partners Wealth acquired a new position in Princeton Bancorp in the 3rd quarter valued at $319,000. Alliancebernstein L.P. boosted its holdings in Princeton Bancorp by 1.0% during the third quarter. Alliancebernstein L.P. now owns 561,737 shares of the company’s stock valued at $17,886,000 after acquiring an additional 5,810 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Princeton Bancorp by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 144,827 shares of the company’s stock valued at $4,611,000 after purchasing an additional 2,505 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Princeton Bancorp by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock valued at $219,000 after purchasing an additional 892 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased 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 during the period. 43.36% of the stock is currently owned by institutional investors.

Princeton Bancorp Company Profile

(Get Free Report)

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.

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