Princeton Bancorp, Inc. (NASDAQ:BPRN) Shares Sold by Private Wealth Management Group LLC

Private Wealth Management Group LLC lowered its stake in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 48,055 shares of the company’s stock after selling 775 shares during the period. Princeton Bancorp comprises about 0.6% of Private Wealth Management Group LLC’s portfolio, making the stock its 23rd largest holding. Private Wealth Management Group LLC owned 0.70% of Princeton Bancorp worth $1,655,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Princeton Bancorp by 98.3% during the third quarter. JPMorgan Chase & Co. now owns 14,568 shares of the company’s stock valued at $539,000 after acquiring an additional 7,220 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Princeton Bancorp during the 3rd quarter valued at approximately $222,000. Barclays PLC lifted its stake in shares of Princeton Bancorp by 262.2% in the 3rd quarter. Barclays PLC now owns 6,599 shares of the company’s stock valued at $244,000 after purchasing an additional 4,777 shares during the period. Geode Capital Management LLC lifted its stake in shares of Princeton Bancorp by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 113,001 shares of the company’s stock valued at $4,179,000 after purchasing an additional 3,078 shares during the period. Finally, State Street Corp boosted its holdings in Princeton Bancorp by 1.0% during the third 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. Institutional investors and hedge funds own 43.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Janney Montgomery Scott upgraded shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Tuesday. Hovde Group assumed coverage on Princeton Bancorp in a report on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 price target for the company.

Princeton Bancorp Stock Performance

Princeton Bancorp stock opened at $34.00 on Thursday. The stock has a market capitalization of $232.90 million, a P/E ratio of 20.24 and a beta of 0.59. The company’s fifty day moving average price is $34.62 and its 200 day moving average price is $35.98. Princeton Bancorp, Inc. has a 1 year low of $29.02 and a 1 year high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last announced its earnings results on Tuesday, January 28th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.11). Sell-side analysts predict that Princeton Bancorp, Inc. will post 3.47 EPS for the current year.

Princeton Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.53%. The ex-dividend date is Wednesday, February 5th. Princeton Bancorp’s payout ratio is 71.43%.

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.