Bank of New York Mellon Corp Cuts Stake in Princeton Bancorp, Inc. (NASDAQ:BPRN)

Bank of New York Mellon Corp cut its holdings in Princeton Bancorp, Inc. (NASDAQ:BPRN) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,383 shares of the company’s stock after selling 590 shares during the period. Bank of New York Mellon Corp owned 0.30% of Princeton Bancorp worth $702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in Princeton Bancorp by 1.9% in the 4th quarter. Empowered Funds LLC now owns 32,772 shares of the company’s stock worth $1,128,000 after purchasing an additional 600 shares in the last quarter. State Street Corp increased its holdings 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Princeton Bancorp by 6.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,073 shares of the company’s stock worth $520,000 after buying an additional 860 shares in the last quarter. Geode Capital Management LLC boosted its stake in Princeton Bancorp by 2.8% during the third quarter. Geode Capital Management LLC now owns 113,001 shares of the company’s stock valued at $4,179,000 after buying an additional 3,078 shares during the last quarter. Finally, Barclays PLC grew its holdings in 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 buying an additional 4,777 shares in the last quarter. 43.36% of the stock is currently owned by institutional investors.

Insider Activity at Princeton Bancorp

In other news, Director Martin Tuchman acquired 22,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were acquired at an average price of $32.71 per share, for a total transaction of $719,620.00. Following the completion of the transaction, the director now directly owns 629,141 shares of the company’s stock, valued at approximately $20,579,202.11. The trade was a 3.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 23.00% of the stock is currently owned by insiders.

Princeton Bancorp Stock Up 2.2 %

BPRN stock opened at $31.00 on Thursday. Princeton Bancorp, Inc. has a 52 week low of $29.02 and a 52 week high of $39.35. The firm has a market capitalization of $214.37 million, a P/E ratio of 18.45 and a beta of 0.54. The company has a fifty day simple moving average of $31.87 and a two-hundred day simple moving average of $34.76.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.11). As a group, analysts anticipate that Princeton Bancorp, Inc. will post 3.35 EPS for the current year.

Princeton Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Wednesday, February 5th. Princeton Bancorp’s dividend payout ratio is currently 71.43%.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price objective 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.