Princeton Bancorp (NASDAQ:BPRN) Stock Price Expected to Rise, Hovde Group Analyst Says

Princeton Bancorp (NASDAQ:BPRN) had its price objective lifted by research analysts at Hovde Group from $35.00 to $37.50 in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has a “market perform” rating on the stock. Hovde Group’s target price suggests a potential upside of 1.63% from the company’s previous close.

Several other brokerages have also recently weighed in on BPRN. Janney Montgomery Scott raised shares of Princeton Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Zacks Research lowered Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings upgraded Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Princeton Bancorp Price Performance

Princeton Bancorp stock opened at $36.90 on Tuesday. The stock has a fifty day moving average price of $35.52 and a two-hundred day moving average price of $33.28. Princeton Bancorp has a 52-week low of $27.25 and a 52-week high of $37.99. The firm has a market capitalization of $249.44 million, a P/E ratio of 13.57 and a beta of 0.53.

Princeton Bancorp (NASDAQ:BPRN) last issued its earnings results on Thursday, January 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.04). The firm had revenue of $20.75 million for the quarter, compared to the consensus estimate of $21.03 million. On average, equities research analysts predict that Princeton Bancorp will post 3.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Princeton Bancorp news, insider Matthew T. Clark sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $32.62, for a total transaction of $48,930.00. Following the completion of the sale, the insider directly owned 81 shares of the company’s stock, valued at approximately $2,642.22. The trade was a 94.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin Tuchman bought 2,000 shares of Princeton Bancorp stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $32.30 per share, for a total transaction of $64,600.00. Following the purchase, the director directly owned 13,604 shares in the company, valued at approximately $439,409.20. The trade was a 17.24% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 8,601 shares of company stock valued at $281,641. 23.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Princeton Bancorp

Several large investors have recently bought and sold shares of the business. Strs Ohio grew its holdings in Princeton Bancorp by 1,500.0% during the 4th quarter. Strs Ohio now owns 9,600 shares of the company’s stock worth $333,000 after acquiring an additional 9,000 shares during the period. Farther Finance Advisors LLC bought a new position in shares of Princeton Bancorp in the 4th quarter worth $282,000. JPMorgan Chase & Co. boosted its position in shares of Princeton Bancorp by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock worth $219,000 after purchasing an additional 892 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Princeton Bancorp during the third quarter worth $319,000. Finally, Alliancebernstein L.P. increased its holdings in Princeton Bancorp by 1.0% in the third quarter. Alliancebernstein L.P. now owns 561,737 shares of the company’s stock valued at $17,886,000 after purchasing an additional 5,810 shares during the last quarter. 43.36% of the stock is currently owned by institutional investors and hedge funds.

About Princeton Bancorp

Princeton Bancorp, Inc is the bank holding company for Princeton Bank, a community-focused financial institution based in Princeton, New Jersey. Through its wholly owned subsidiary, the company offers a full suite of personal and business banking services designed to meet the needs of individuals, families and local enterprises in central and southern New Jersey.

The company’s core offerings include checking and savings accounts, consumer and commercial lending, mortgage origination and refinancing, as well as treasury management solutions for small-to-medium-sized businesses.