Boenning Scattergood Reiterates Buy Rating for The Bank of Princeton (BPRN)
The Bank of Princeton (NASDAQ:BPRN)‘s stock had its “buy” rating restated by stock analysts at Boenning Scattergood in a report released on Friday. They currently have a $35.75 price target on the stock. Boenning Scattergood’s target price would suggest a potential upside of 13.13% from the company’s previous close.
The analysts wrote, “We are attracted to Bank of Princeton’s projected growth trajectory, above-peer return metrics, and the shares’ relative discount to peers. We believe the Bull/Bear cases point to buying the shares at current levels, and our valuation methodology confirms this view. The stock currently trades at a discount compared to peers (2018 P/E 13.7x vs. 15.1x) and price-to-tangible book (124% [proforma] vs. 149%). In our opinion, the discounts should dissipate as the company posts strong growth with continued better-than-peer profitability. The recent listing of the shares on NASDAQ created the opportunity for inclusion in indices driving demand for the shares from institutional investors.””
A number of other equities analysts have also commented on BPRN. Sandler O’Neill reaffirmed a “buy” rating and set a $36.00 target price on shares of The Bank of Princeton in a research report on Tuesday, August 29th. FBR & Co began coverage on shares of The Bank of Princeton in a research report on Monday, August 28th. They set a “buy” rating and a $37.00 target price on the stock.
Shares of The Bank of Princeton (BPRN) opened at 31.60 on Friday. The firm’s 50-day moving average price is $31.60 and its 200 day moving average price is $30.14. The company has a market capitalization of $206.85 million and a PE ratio of 13.17. The Bank of Princeton has a 52-week low of $29.43 and a 52-week high of $39.00.
The Bank of Princeton Company Profile
The Bank of Princeton provides various banking products and services in the United States. The company offers checking accounts, savings accounts, attorney trust accounts, money market accounts, and certificates of deposit; and commercial real estate, commercial and industrial, construction, residential first-lien mortgage, home equity, and consumer loans, as well as lines of credit.
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