Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman Purchases 2,000 Shares

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman acquired 2,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $31.28 per share, for a total transaction of $62,560.00. Following the purchase, the director now directly owns 108,582 shares in the company, valued at approximately $3,396,444.96. The trade was a 1.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, May 5th, Martin Tuchman bought 431 shares of Princeton Bancorp stock. The shares were acquired at an average price of $30.85 per share, with a total value of $13,296.35.
• On Wednesday, April 30th, Martin Tuchman acquired 1,000 shares of Princeton Bancorp stock. The shares were bought at an average price of $30.43 per share, with a total value of $30,430.00.
• On Monday, April 28th, Martin Tuchman bought 1,000 shares of Princeton Bancorp stock. The stock was bought at an average price of $30.00 per share, for a total transaction of $30,000.00.
• On Tuesday, February 11th, Martin Tuchman bought 22,000 shares of Princeton Bancorp stock. The shares were bought at an average cost of $32.71 per share, with a total value of $719,620.00.

Princeton Bancorp Stock Performance

Princeton Bancorp stock opened at $31.25 on Friday. The company has a 50 day moving average price of $29.90 and a 200 day moving average price of $33.03. Princeton Bancorp, Inc. has a 52 week low of $27.25 and a 52 week high of $39.35. The firm has a market capitalization of $216.09 million, a price-to-earnings ratio of 18.60 and a beta of 0.63.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $20.95 million for the quarter, compared to analysts’ expectations of $20.73 million. Equities analysts forecast that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Princeton Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Tuesday, May 6th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Tuesday, May 6th. Princeton Bancorp’s dividend payout ratio (DPR) is 67.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in Princeton Bancorp by 565.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,071 shares of the company’s stock worth $37,000 after buying an additional 910 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Princeton Bancorp by 38.6% during the fourth quarter. Wells Fargo & Company MN now owns 3,222 shares of the company’s stock worth $111,000 after acquiring an additional 898 shares in the last quarter. Bank of America Corp DE boosted its position in Princeton Bancorp by 49.2% during the fourth quarter. Bank of America Corp DE now owns 5,509 shares of the company’s stock valued at $190,000 after purchasing an additional 1,816 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Princeton Bancorp in the fourth quarter valued at about $216,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in Princeton Bancorp in the 4th quarter worth about $235,000. 43.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Tuesday, February 4th.

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.