Hovde Group Initiates Coverage on Princeton Bancorp (NASDAQ:BPRN)

Investment analysts at Hovde Group began coverage on shares of Princeton Bancorp (NASDAQ:BPRN) in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm set a “market perform” rating and a $40.00 price target on the stock. Hovde Group’s price objective points to a potential upside of 8.93% from the stock’s previous close.

Princeton Bancorp Trading Down 2.0 %

Shares of BPRN opened at $36.72 on Tuesday. The company’s fifty day simple moving average is $36.93 and its 200-day simple moving average is $34.72. The company has a market cap of $251.53 million, a P/E ratio of 20.98 and a beta of 0.59. Princeton Bancorp has a twelve month low of $29.02 and a twelve month high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings data 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 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 prior year, the business earned $0.80 earnings per share. Analysts predict that Princeton Bancorp will post 2.98 earnings per share for the current fiscal year.

Institutional Trading of Princeton Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Copeland Capital Management LLC bought a new position in shares of Princeton Bancorp in the third quarter worth about $47,000. Princeton Capital Management LLC purchased a new stake in Princeton Bancorp in the 3rd quarter valued at about $215,000. GSA Capital Partners LLP bought a new position in Princeton Bancorp in the 3rd quarter worth about $235,000. Barclays PLC increased its position in shares of Princeton Bancorp by 262.2% during the third quarter. Barclays PLC now owns 6,599 shares of the company’s stock worth $244,000 after acquiring an additional 4,777 shares during the period. Finally, Masso Torrence Wealth Management Inc. bought a new stake in shares of Princeton Bancorp during the third quarter valued at approximately $302,000. Hedge funds and other institutional investors own 43.36% of the company’s stock.

Princeton Bancorp Company 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.