Princeton Bancorp (NASDAQ:BPRN) Upgraded at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Princeton Bancorp (NASDAQ:BPRN) from a neutral rating to a buy rating in a research note published on Tuesday, Marketbeat.com reports. The firm currently has $35.00 price target on the stock.

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

Princeton Bancorp Stock Performance

Shares of NASDAQ:BPRN opened at $33.90 on Tuesday. The stock’s 50-day simple moving average is $34.55 and its two-hundred day simple moving average is $35.97. The stock has a market capitalization of $232.18 million, a price-to-earnings ratio of 20.18 and a beta of 0.59. Princeton Bancorp has a 52-week low of $29.02 and a 52-week high of $39.35.

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

Princeton Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Wednesday, February 5th. Princeton Bancorp’s payout ratio is currently 71.43%.

Hedge Funds Weigh In On Princeton Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Copeland Capital Management LLC purchased a new stake in Princeton Bancorp in the 3rd quarter worth $47,000. Princeton Capital Management LLC purchased a new stake in shares of Princeton Bancorp in the third quarter worth about $215,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Princeton Bancorp during the 3rd quarter worth approximately $222,000. GSA Capital Partners LLP bought a new position in shares of Princeton Bancorp during the 3rd quarter valued at approximately $235,000. Finally, Global Wealth Management Investment Advisory Inc. purchased a new position in shares of Princeton Bancorp in the fourth quarter valued at $235,000. 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.