Princeton Bancorp (NASDAQ:BPRN) Coverage Initiated by Analysts at Hovde Group

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

Princeton Bancorp Stock Performance

NASDAQ:BPRN opened at $36.88 on Tuesday. Princeton Bancorp has a one year low of $29.02 and a one year high of $39.35. The stock has a market cap of $252.59 million, a PE ratio of 21.07 and a beta of 0.59. The stock has a 50 day moving average price of $36.94 and a 200 day moving average price of $34.83.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly 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 firm had revenue of $33.87 million during the quarter, compared to analyst estimates of $19.30 million. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, analysts predict that Princeton Bancorp will post 2.98 earnings per share for the current fiscal year.

Princeton Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 28th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Tuesday, November 5th. Princeton Bancorp’s payout ratio is presently 68.57%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC acquired a new position in shares of Princeton Bancorp in the 3rd quarter valued at $47,000. Princeton Capital Management LLC acquired a new stake in shares of Princeton Bancorp during the third quarter valued at about $215,000. GSA Capital Partners LLP purchased a new stake in shares of Princeton Bancorp in the 3rd quarter valued at approximately $235,000. Barclays PLC lifted its holdings in shares of Princeton Bancorp by 262.2% in the 3rd quarter. Barclays PLC now owns 6,599 shares of the company’s stock worth $244,000 after acquiring an additional 4,777 shares during the last quarter. Finally, Masso Torrence Wealth Management Inc. purchased a new position in shares of Princeton Bancorp during the 3rd quarter worth approximately $302,000. 43.36% of the stock is currently 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.