Charles Schwab Investment Management Inc. Raises Stake in Princeton Bancorp, Inc. (NASDAQ:BPRN)

Charles Schwab Investment Management Inc. lifted its position in Princeton Bancorp, Inc. (NASDAQ:BPRN) by 6.5% in the third quarter, HoldingsChannel.com reports. The firm owned 14,073 shares of the company’s stock after purchasing an additional 860 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Princeton Bancorp were worth $520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Princeton Bancorp in the 3rd quarter worth $382,000. Dimensional Fund Advisors LP boosted its stake in shares of Princeton Bancorp by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 113,090 shares of the company’s stock worth $3,742,000 after acquiring an additional 9,990 shares during the period. LSV Asset Management grew its position in shares of Princeton Bancorp by 66.5% during the second quarter. LSV Asset Management now owns 24,635 shares of the company’s stock worth $815,000 after purchasing an additional 9,835 shares in the last quarter. Masso Torrence Wealth Management Inc. bought a new stake in Princeton Bancorp during the 3rd quarter valued at approximately $302,000. Finally, GSA Capital Partners LLP purchased a new position in Princeton Bancorp in the 3rd quarter worth approximately $235,000. 43.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Princeton Bancorp Stock Down 5.9 %

Shares of BPRN stock opened at $34.71 on Thursday. The stock has a market cap of $237.73 million, a P/E ratio of 19.83 and a beta of 0.60. The company’s fifty day simple moving average is $37.09 and its two-hundred day simple moving average is $35.73. Princeton Bancorp, Inc. has a 52 week low of $29.02 and a 52 week high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last posted its earnings results on Tuesday, October 29th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The firm had revenue of $33.87 million for the quarter, compared to analysts’ expectations of $19.30 million. During the same quarter in the previous year, the business posted $0.80 EPS. On average, analysts anticipate that Princeton Bancorp, Inc. will post 2.98 EPS for the current fiscal year.

Princeton Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Tuesday, November 5th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Tuesday, November 5th. 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.