Martin Tuchman Buys 22,000 Shares of Princeton Bancorp, Inc. (NASDAQ:BPRN) Stock

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) Director Martin Tuchman purchased 22,000 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were bought at an average price of $32.71 per share, for a total transaction of $719,620.00. Following the completion of the transaction, the director now owns 629,141 shares of the company's stock, valued at approximately $20,579,202.11. This trade represents a 3.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Princeton Bancorp Stock Up 0.2 %

NASDAQ:BPRN traded up $0.07 on Friday, hitting $31.82. The stock had a trading volume of 4,605 shares, compared to its average volume of 8,394. The stock has a market cap of $217.97 million, a price-to-earnings ratio of 18.94 and a beta of 0.59. The business's 50-day simple moving average is $33.76 and its two-hundred day simple moving average is $35.72. Princeton Bancorp, Inc. has a 52-week low of $29.02 and a 52-week high of $39.35.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.11). As a group, equities research analysts anticipate that Princeton Bancorp, Inc. will post 3.35 EPS for the current year.

Remove Ads

Princeton Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, February 5th. Princeton Bancorp's payout ratio is 71.43%.

Analyst Upgrades and Downgrades

BPRN has been the subject of a number of analyst reports. Hovde Group assumed coverage on Princeton Bancorp in a research note on Tuesday, November 19th. They set a "market perform" rating and a $40.00 price objective for the company. Janney Montgomery Scott upgraded Princeton Bancorp from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a report on Tuesday, February 4th.

Institutional Trading of Princeton Bancorp

A number of large investors have recently added to or reduced their stakes in BPRN. Empowered Funds LLC boosted its holdings in Princeton Bancorp by 1.9% during the 4th quarter. Empowered Funds LLC now owns 32,772 shares of the company's stock valued at $1,128,000 after acquiring an additional 600 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Princeton Bancorp by 6.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,950 shares of the company's stock worth $377,000 after buying an additional 633 shares in the last quarter. State Street Corp grew its position in shares of Princeton Bancorp by 1.0% during the 3rd quarter. State Street Corp now owns 70,670 shares of the company's stock worth $2,613,000 after buying an additional 733 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Princeton Bancorp by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,073 shares of the company's stock worth $520,000 after buying an additional 860 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Princeton Bancorp by 38.6% during the 4th quarter. Wells Fargo & Company MN now owns 3,222 shares of the company's stock worth $111,000 after buying an additional 898 shares in the last quarter. Institutional investors 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.