Princeton Bancorp (NASDAQ:BPRN) Now Covered by Analysts at Hovde Group

Hovde Group started coverage on shares of Princeton Bancorp (NASDAQ:BPRN) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $40.00 price objective on the stock.

Princeton Bancorp Stock Down 1.0 %

Shares of BPRN opened at $36.35 on Tuesday. Princeton Bancorp has a twelve month low of $29.02 and a twelve month high of $39.35. The company has a market capitalization of $249.00 million, a P/E ratio of 20.98 and a beta of 0.59. The firm has a 50 day moving average of $36.93 and a 200 day moving average of $34.72.

Princeton Bancorp (NASDAQ:BPRN) last issued its earnings results on Tuesday, October 29th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The business had revenue of $33.87 million during the quarter, compared to analyst estimates of $19.30 million. During the same quarter last year, the company posted $0.80 EPS. On average, sell-side analysts expect that Princeton Bancorp will post 2.98 EPS for the current year.

Princeton Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 28th. Shareholders of record on Tuesday, November 5th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, November 5th. Princeton Bancorp’s dividend payout ratio (DPR) is presently 68.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Princeton Bancorp by 262.2% during the 3rd quarter. Barclays PLC now owns 6,599 shares of the company’s stock valued at $244,000 after acquiring an additional 4,777 shares during the period. Geode Capital Management LLC increased its stake in shares of Princeton Bancorp by 2.8% in the third quarter. Geode Capital Management LLC now owns 113,001 shares of the company’s stock worth $4,179,000 after purchasing an additional 3,078 shares in the last quarter. State Street Corp increased its stake in shares of Princeton Bancorp by 1.0% in the third quarter. State Street Corp now owns 70,670 shares of the company’s stock worth $2,613,000 after purchasing an additional 733 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Princeton Bancorp by 11.1% during the 3rd quarter. Systematic Financial Management LP now owns 318,772 shares of the company’s stock valued at $11,788,000 after purchasing an additional 31,777 shares during the period. Finally, Banc Funds Co. LLC lifted its stake in shares of 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 buying an additional 31,700 shares in the last quarter. 43.36% of the stock is owned by hedge funds and other institutional investors.

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.