Banc Funds Co. LLC Purchases 31,700 Shares of Princeton Bancorp, Inc. (NASDAQ:BPRN)

Banc Funds Co. LLC increased its position in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN - Free Report) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 340,716 shares of the company's stock after purchasing an additional 31,700 shares during the quarter. Princeton Bancorp makes up about 1.4% of Banc Funds Co. LLC's holdings, making the stock its 26th biggest position. Banc Funds Co. LLC owned approximately 5.37% of Princeton Bancorp worth $12,600,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BPRN. Copeland Capital Management LLC purchased a new position in Princeton Bancorp during the third quarter worth about $47,000. Princeton Capital Management LLC bought a new stake in Princeton Bancorp in the third quarter worth about $215,000. GSA Capital Partners LLP bought a new stake in Princeton Bancorp in the third quarter worth about $235,000. Masso Torrence Wealth Management Inc. bought a new stake in Princeton Bancorp in the third quarter worth about $302,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Princeton Bancorp in the third quarter worth about $382,000. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

Princeton Bancorp Stock Performance

BPRN stock traded up $0.38 during mid-day trading on Monday, hitting $37.45. The company had a trading volume of 1,490 shares, compared to its average volume of 10,460. The stock's fifty day moving average price is $36.91 and its two-hundred day moving average price is $35.14. Princeton Bancorp, Inc. has a 12 month low of $29.02 and a 12 month high of $39.35. The firm has a market cap of $256.53 million, a PE ratio of 21.18 and a beta of 0.59.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). The firm had revenue of $33.87 million for the quarter, compared to the consensus estimate of $19.30 million. During the same quarter in the prior year, the business posted $0.80 earnings per share. Equities analysts anticipate that Princeton Bancorp, Inc. will post 2.98 earnings per share for the current year.

Princeton Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Tuesday, November 5th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Tuesday, November 5th. Princeton Bancorp's dividend payout ratio (DPR) is currently 68.57%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group initiated coverage on shares of Princeton Bancorp in a research report on Tuesday, November 19th. They issued a "market perform" rating and a $40.00 price objective on the 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.