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

Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman purchased 22,000 shares of the stock in a transaction on 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 acquisition, the director now directly owns 629,141 shares in the company, valued at approximately $20,579,202.11. This trade represents a 3.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Princeton Bancorp Stock Performance

BPRN opened at $31.82 on Friday. The firm’s 50-day simple moving average is $33.90 and its 200-day simple moving average is $35.78. Princeton Bancorp, Inc. has a twelve month low of $29.02 and a twelve month high of $39.35. The firm has a market cap of $217.94 million, a price-to-earnings ratio of 18.94 and a beta of 0.59.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly 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). As a group, sell-side analysts anticipate that Princeton Bancorp, Inc. will post 3.35 EPS for the current fiscal year.

Princeton Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.20 annualized dividend and a yield of 3.77%. Princeton Bancorp’s dividend payout ratio (DPR) is 71.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BPRN. Systematic Financial Management LP lifted its position in Princeton Bancorp by 11.1% during the 3rd quarter. Systematic Financial Management LP now owns 318,772 shares of the company’s stock worth $11,788,000 after buying an additional 31,777 shares in the last quarter. Banc Funds Co. LLC lifted its position in Princeton Bancorp by 10.3% during the 3rd quarter. Banc Funds Co. LLC now owns 340,716 shares of the company’s stock valued at $12,600,000 after purchasing an additional 31,700 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Princeton Bancorp during the 4th quarter valued at about $677,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Princeton Bancorp during the 3rd quarter valued at about $382,000. Finally, JPMorgan Chase & Co. lifted its position in Princeton Bancorp by 63.7% during the 4th quarter. JPMorgan Chase & Co. now owns 23,847 shares of the company’s stock valued at $821,000 after purchasing an additional 9,279 shares during the period. Institutional investors and hedge funds own 43.36% of the company’s stock.

Analyst Ratings Changes

BPRN has been the topic of several analyst reports. Hovde Group initiated coverage on shares of Princeton Bancorp in a report on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 price target on the stock. Janney Montgomery Scott raised shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Tuesday, February 4th.

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.