Geode Capital Management LLC Increases Stock Position in Princeton Bancorp, Inc. (NASDAQ:BPRN)

Geode Capital Management LLC increased its position in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,001 shares of the company’s stock after buying an additional 3,078 shares during the period. Geode Capital Management LLC’s holdings in Princeton Bancorp were worth $4,179,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

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

Princeton Bancorp Stock Performance

Shares of Princeton Bancorp stock opened at $34.31 on Monday. Princeton Bancorp, Inc. has a 1 year low of $29.02 and a 1 year high of $39.35. The firm’s 50-day simple moving average is $36.50 and its 200-day simple moving average is $36.06. The firm has a market cap of $234.99 million, a PE ratio of 19.61 and a beta of 0.61.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.06). The company had revenue of $33.87 million during the quarter, compared to analysts’ expectations of $19.30 million. During the same period in the prior year, the company posted $0.80 earnings per share. On average, equities analysts predict that Princeton Bancorp, Inc. will post 2.98 earnings per share for the current year.

Princeton Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Tuesday, November 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Tuesday, November 5th. Princeton Bancorp’s dividend payout ratio is currently 68.57%.

Princeton Bancorp Profile

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.