Princeton Bancorp (NASDAQ:BPRN) Director Martin Tuchman Buys 493 Shares

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman acquired 493 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $33.00 per share, with a total value of $16,269.00. Following the transaction, the director directly owned 2,496 shares in the company, valued at $82,368. The trade was a 24.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Martin Tuchman also recently made the following trade(s):

• On Wednesday, November 5th, Martin Tuchman purchased 3 shares of Princeton Bancorp stock. The stock was purchased at an average price of $32.60 per share, for a total transaction of $97.80.
• On Tuesday, November 4th, Martin Tuchman bought 2,000 shares of Princeton Bancorp stock. The shares were acquired at an average price of $32.25 per share, for a total transaction of $64,500.00.
• On Monday, September 8th, Martin Tuchman acquired 10,000 shares of Princeton Bancorp stock. The stock was acquired at an average price of $33.00 per share, for a total transaction of $330,000.00.

Princeton Bancorp Price Performance

Shares of Princeton Bancorp stock traded up $0.26 on Thursday, hitting $33.19. 2,174 shares of the company’s stock traded hands, compared to its average volume of 9,751. Princeton Bancorp, Inc. has a one year low of $27.25 and a one year high of $38.78. The stock has a market capitalization of $224.36 million, a PE ratio of 12.91 and a beta of 0.65. The firm’s 50-day moving average price is $31.71 and its two-hundred day moving average price is $31.58.

Princeton Bancorp (NASDAQ:BPRN) last released its earnings results on Wednesday, October 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $21.53 million during the quarter, compared to analyst estimates of $20.33 million. On average, analysts forecast that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Princeton Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be issued a dividend of $0.35 per share. This is a boost from Princeton Bancorp’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, November 7th. Princeton Bancorp’s dividend payout ratio is presently 54.47%.

Analysts Set New Price Targets

BPRN has been the topic of several recent analyst reports. Janney Montgomery Scott upgraded Princeton Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Zacks Research upgraded Princeton Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Princeton Bancorp in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $37.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its holdings in Princeton Bancorp by 2.4% in the 2nd quarter. Alliancebernstein L.P. now owns 555,927 shares of the company’s stock valued at $16,978,000 after purchasing an additional 13,280 shares during the period. Systematic Financial Management LP increased its stake in Princeton Bancorp by 1.0% during the 2nd quarter. Systematic Financial Management LP now owns 345,247 shares of the company’s stock worth $10,544,000 after acquiring an additional 3,269 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Princeton Bancorp by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 144,827 shares of the company’s stock valued at $4,611,000 after acquiring an additional 2,505 shares during the period. Geode Capital Management LLC lifted its position in shares of Princeton Bancorp by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock valued at $3,890,000 after acquiring an additional 1,542 shares during the period. Finally, Royce & Associates LP grew its holdings in shares of Princeton Bancorp by 14.3% during the 3rd quarter. Royce & Associates LP now owns 80,366 shares of the company’s stock worth $2,559,000 after purchasing an additional 10,032 shares in the last quarter. Institutional investors and hedge funds own 43.36% of the company’s stock.

About Princeton Bancorp

Princeton Bancorp, Inc operates as the bank holding company for The Bank of Princeton that provides various banking products and services. It accepts various deposit products, including checking, savings, attorney trust, and money market accounts, as well as certificates of deposit. The company also offers traditional retail banking services, one-to-four-family residential mortgage loans, multi-family and commercial mortgage loans, construction loans, and commercial business loans, as well as consumer loans, including home equity loans and lines of credit.