Janney Montgomery Scott Upgrades Princeton Bancorp (NASDAQ:BPRN) to Buy

Princeton Bancorp (NASDAQ:BPRN) was upgraded by Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report issued on Tuesday, MarketBeat reports. The brokerage presently has a $35.00 price target on the stock. Janney Montgomery Scott’s price target points to a potential upside of 2.94% from the company’s previous close.

Separately, Hovde Group initiated coverage on Princeton Bancorp in a research note on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 target price on the stock.

Princeton Bancorp Trading Up 4.9 %

NASDAQ BPRN opened at $34.00 on Tuesday. The business has a fifty day simple moving average of $34.62 and a 200 day simple moving average of $35.98. Princeton Bancorp has a 12 month low of $29.02 and a 12 month high of $39.35. The firm has a market capitalization of $232.90 million, a P/E ratio of 20.24 and a beta of 0.59.

Princeton Bancorp (NASDAQ:BPRN) last announced its earnings results on Tuesday, January 28th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.11). As a group, sell-side analysts predict that Princeton Bancorp will post 3.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Princeton Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in Princeton Bancorp by 1.9% in the fourth quarter. Empowered Funds LLC now owns 32,772 shares of the company’s stock worth $1,128,000 after acquiring an additional 600 shares during the period. State Street Corp raised its holdings in shares of Princeton Bancorp by 1.0% in the 3rd 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 period. Charles Schwab Investment Management Inc. raised its holdings in shares of Princeton Bancorp by 6.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,073 shares of the company’s stock worth $520,000 after purchasing an additional 860 shares during the period. Copeland Capital Management LLC purchased a new position in Princeton Bancorp in the third quarter valued at approximately $47,000. Finally, Geode Capital Management LLC grew its holdings 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 purchasing an additional 3,078 shares during the period. Institutional investors own 43.36% of the company’s stock.

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.