State Street Corp Raises Stock Position in Princeton Bancorp, Inc. (NASDAQ:BPRN)

State Street Corp grew its holdings in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,670 shares of the company’s stock after buying an additional 733 shares during the quarter. State Street Corp’s holdings in Princeton Bancorp were worth $2,613,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Systematic Financial Management LP raised 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 during the period. Banc Funds Co. LLC raised its holdings in Princeton Bancorp by 10.3% during the 3rd quarter. Banc Funds Co. LLC now owns 340,716 shares of the company’s stock valued at $12,600,000 after buying an additional 31,700 shares during the period. Charles Schwab Investment Management Inc. lifted its position in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Princeton Bancorp during the third quarter worth $382,000. Finally, Princeton Capital Management LLC bought a new position in Princeton Bancorp during the third quarter valued at $215,000. Institutional investors own 43.36% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group started coverage on shares of Princeton Bancorp in a report on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 target price for the company.

Princeton Bancorp Stock Performance

Shares of NASDAQ BPRN opened at $34.43 on Wednesday. Princeton Bancorp, Inc. has a fifty-two week low of $29.02 and a fifty-two week high of $39.35. The company has a market cap of $235.81 million, a price-to-earnings ratio of 19.67 and a beta of 0.60. The business’s 50 day moving average price is $36.63 and its 200-day moving average price is $36.02.

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 company had revenue of $33.87 million for the quarter, compared to the consensus estimate of $19.30 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. Sell-side analysts predict that Princeton Bancorp, Inc. will post 2.98 earnings per share for the current year.

Princeton Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Tuesday, November 5th were issued a $0.30 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.49%. Princeton Bancorp’s payout ratio is 68.57%.

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.