JPMorgan Chase & Co. Buys 7,220 Shares of Princeton Bancorp, Inc. (NASDAQ:BPRN)

JPMorgan Chase & Co. grew its holdings in Princeton Bancorp, Inc. (NASDAQ:BPRN) by 98.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,568 shares of the company’s stock after purchasing an additional 7,220 shares during the period. JPMorgan Chase & Co. owned about 0.21% of Princeton Bancorp worth $539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BPRN. Systematic Financial Management LP lifted its position in Princeton Bancorp by 11.1% during the third 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 in the last quarter. Banc Funds Co. LLC increased its stake in Princeton Bancorp by 10.3% during 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Princeton Bancorp during the third quarter worth approximately $382,000. Dimensional Fund Advisors LP increased its stake in Princeton Bancorp by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 113,090 shares of the company’s stock worth $3,742,000 after acquiring an additional 9,990 shares during the last quarter. Finally, Masso Torrence Wealth Management Inc. purchased a new position in shares of Princeton Bancorp during the third quarter valued at approximately $302,000. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group initiated 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 Trading Up 1.8 %

Shares of BPRN stock opened at $33.23 on Tuesday. The business’s fifty day simple moving average is $35.25 and its 200-day simple moving average is $36.19. The company has a market cap of $227.63 million, a PE ratio of 18.99 and a beta of 0.61. Princeton Bancorp, Inc. has a 12-month low of $29.02 and a 12-month high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last released its earnings results on Tuesday, October 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). The company had revenue of $33.87 million during the quarter, compared to analysts’ expectations of $19.30 million. During the same quarter last year, the firm posted $0.80 earnings per share. On average, equities analysts forecast that Princeton Bancorp, Inc. will post 2.98 earnings per share for the current year.

Princeton Bancorp Dividend Announcement

The company 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. This represents a $1.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Wednesday, February 5th. Princeton Bancorp’s payout ratio is currently 68.57%.

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.