Princeton Bancorp (NASDAQ:BPRN) Announces Earnings Results, Beats Estimates By $0.16 EPS

Princeton Bancorp (NASDAQ:BPRN) released its quarterly earnings results on Thursday. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.16, FiscalAI reports. The business had revenue of $22.48 million for the quarter, compared to analyst estimates of $21.84 million. Princeton Bancorp had a net margin of 18.99% and a return on equity of 9.57%.

Princeton Bancorp Trading Up 7.6%

Shares of Princeton Bancorp stock opened at $40.85 on Friday. The firm has a market capitalization of $278.19 million, a PE ratio of 10.75 and a beta of 0.48. The firm’s 50 day moving average is $37.08 and its 200 day moving average is $35.81. Princeton Bancorp has a 1 year low of $29.69 and a 1 year high of $41.15.

Princeton Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Wednesday, August 5th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $1.40 annualized dividend and a dividend yield of 3.4%. Princeton Bancorp’s payout ratio is 36.84%.

Analysts Set New Price Targets

Several research analysts have recently commented on BPRN shares. Zacks Research raised shares of Princeton Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings raised Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Princeton Bancorp has an average rating of “Moderate Buy” and an average price target of $37.50.

Insiders Place Their Bets

In other news, insider Stephanie Adkins sold 1,600 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $35.04, for a total transaction of $56,064.00. Following the completion of the transaction, the insider directly owned 21,272 shares in the company, valued at approximately $745,370.88. This represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Princeton Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Princeton Bancorp in the 2nd quarter worth about $61,000. Tower Research Capital LLC TRC boosted its stake in shares of Princeton Bancorp by 584.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock valued at $67,000 after purchasing an additional 1,871 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Princeton Bancorp by 14.7% during 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 during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Princeton Bancorp by 50.1% during 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 during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Princeton Bancorp in the fourth quarter valued at approximately $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.