Princeton Bancorp (NASDAQ:BPRN) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Princeton Bancorp (NASDAQ:BPRN) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other research firms also recently weighed in on BPRN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Princeton Bancorp in a research note on Wednesday, October 8th. Janney Montgomery Scott upgraded Princeton Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Princeton Bancorp Trading Up 2.3%

NASDAQ BPRN opened at $34.51 on Tuesday. The stock has a market cap of $233.29 million, a PE ratio of 13.43 and a beta of 0.65. Princeton Bancorp has a 12 month low of $27.25 and a 12 month high of $38.78. The company’s 50-day moving average price is $31.80 and its 200-day moving average price is $31.76.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.95 earnings per share (EPS) 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 analysts’ expectations of $20.33 million. As a group, sell-side analysts forecast that Princeton Bancorp will post 3.35 earnings per share for the current year.

Princeton Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th were paid 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 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, November 7th. Princeton Bancorp’s payout ratio is 54.47%.

Insider Buying and Selling at Princeton Bancorp

In related news, Director Martin Tuchman purchased 10,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were acquired at an average cost of $33.00 per share, for a total transaction of $330,000.00. Following the acquisition, the director owned 639,141 shares of the company’s stock, valued at $21,091,653. The trade was a 1.59% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Distler sold 10,000 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $33.00, for a total value of $330,000.00. Following the completion of the transaction, the director directly owned 90,296 shares of the company’s stock, valued at approximately $2,979,768. The trade was a 9.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders purchased 22,204 shares of company stock worth $726,639. 23.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Princeton Bancorp

A number of institutional investors have recently added to or reduced their stakes in BPRN. Charles Schwab Investment Management Inc. boosted its holdings in shares of Princeton Bancorp by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,573 shares of the company’s stock valued at $445,000 after buying an additional 500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Princeton Bancorp by 24.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,688 shares of the company’s stock worth $479,000 after acquiring an additional 3,044 shares in the last quarter. Roundview Capital LLC raised its stake in shares of Princeton Bancorp by 14.9% during the 2nd quarter. Roundview Capital LLC now owns 61,792 shares of the company’s stock worth $1,887,000 after acquiring an additional 8,000 shares in the last quarter. Nuveen LLC purchased a new stake in Princeton Bancorp during the first quarter valued at approximately $229,000. Finally, SilverOak Wealth Management LLC purchased a new stake in Princeton Bancorp during the second quarter valued at approximately $232,000. Institutional investors own 43.36% of the company’s stock.

Princeton Bancorp Company Profile

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.