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

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman bought 22,000 shares of Princeton Bancorp stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average cost of $32.71 per share, for a total transaction of $719,620.00. Following the purchase, the director now directly owns 629,141 shares in the company, valued at approximately $20,579,202.11. The trade was a 3.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Princeton Bancorp Stock Down 2.8 %

NASDAQ:BPRN traded down $0.89 during trading hours on Wednesday, hitting $31.35. 5,609 shares of the company traded hands, compared to its average volume of 8,593. The firm’s 50-day simple moving average is $34.17 and its 200-day simple moving average is $35.84. Princeton Bancorp, Inc. has a one year low of $29.02 and a one year high of $39.35. The company has a market cap of $214.75 million, a PE ratio of 18.66 and a beta of 0.59.

Princeton Bancorp (NASDAQ:BPRN) last posted its earnings results 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 expect that Princeton Bancorp, Inc. will post 3.35 EPS for the current year.

Princeton Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.83%. Princeton Bancorp’s dividend payout ratio (DPR) is presently 71.43%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BPRN shares. Hovde Group began coverage on shares of Princeton Bancorp in a report on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 price objective on the stock. Janney Montgomery Scott raised Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Tuesday, February 4th.

Institutional Investors Weigh In On Princeton Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banc Funds Co. LLC grew its stake in shares of Princeton Bancorp by 10.3% in the third quarter. Banc Funds Co. LLC now owns 340,716 shares of the company’s stock worth $12,600,000 after acquiring an additional 31,700 shares during the last quarter. Systematic Financial Management LP grew its position in shares of Princeton Bancorp by 11.1% during the third quarter. Systematic Financial Management LP now owns 318,772 shares of the company’s stock worth $11,788,000 after purchasing an additional 31,777 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Princeton Bancorp by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 116,891 shares of the company’s stock worth $4,025,000 after purchasing an additional 3,890 shares in the last quarter. State Street Corp grew its holdings in Princeton Bancorp by 1.0% during the 3rd quarter. State Street Corp now owns 70,670 shares of the company’s stock valued at $2,613,000 after buying an additional 733 shares in the last quarter. Finally, Empowered Funds LLC grew 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 buying an additional 600 shares in the last quarter. 43.36% of the stock is owned by hedge funds and other institutional investors.

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.