Bank Of Princeton (BPRN) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Bank Of Princeton (NASDAQ:BPRN) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “The Bank of Princeton is a community bank which provides banking products and services. The company offers checking accounts, savings accounts, attorney trust accounts, money market accounts and certificates of deposit; and commercial real estate, commercial and industrial, construction, residential first-lien mortgage, home equity and consumer loans, as well as lines of credit. It operates primarily in New Jersey, Hamilton, Pennington, Montgomery, Monroe Township, Lambertville, New Brunswick, Lawrenceville. The Bank of Princeton is headquartered in Princeton, New Jersey. “

Several other equities analysts have also recently weighed in on the company. B. Riley lowered their target price on Bank Of Princeton from $36.00 to $32.00 and set a hold rating on the stock in a research note on Monday, November 5th. ValuEngine cut Bank Of Princeton from a hold rating to a sell rating in a research note on Thursday, November 1st. Finally, Boenning Scattergood reaffirmed a buy rating on shares of Bank Of Princeton in a research note on Friday, October 26th.

NASDAQ:BPRN traded down $0.54 on Wednesday, hitting $29.71. 6,660 shares of the company’s stock traded hands, compared to its average volume of 8,587. Bank Of Princeton has a 1 year low of $26.77 and a 1 year high of $35.45. The stock has a market cap of $197.79 million, a PE ratio of 15.08 and a beta of 0.19.

Bank Of Princeton (NASDAQ:BPRN) last released its earnings results on Thursday, October 25th. The company reported $0.54 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. The business had revenue of $11.19 million for the quarter, compared to analysts’ expectations of $11.67 million. Sell-side analysts forecast that Bank Of Princeton will post 2.15 EPS for the current year.

The company also recently declared a Not Available dividend, which will be paid on Friday, November 23rd. Investors of record on Monday, November 5th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, November 2nd. Bank Of Princeton’s payout ratio is 6.09%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Bank Of Princeton by 4.1% in the 3rd quarter. BlackRock Inc. now owns 283,058 shares of the company’s stock valued at $8,645,000 after buying an additional 11,224 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Bank Of Princeton by 45.4% in the 3rd quarter. Alliancebernstein L.P. now owns 53,198 shares of the company’s stock valued at $1,625,000 after buying an additional 16,600 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Bank Of Princeton by 199.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,538 shares of the company’s stock valued at $139,000 after buying an additional 3,025 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of Bank Of Princeton by 11.4% in the 3rd quarter. Systematic Financial Management LP now owns 238,993 shares of the company’s stock valued at $7,299,000 after buying an additional 24,524 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Bank Of Princeton by 727.9% in the 2nd quarter. Northern Trust Corp now owns 55,393 shares of the company’s stock valued at $1,842,000 after buying an additional 48,702 shares in the last quarter. 34.14% of the stock is owned by institutional investors and hedge funds.

Bank Of Princeton Company Profile

The Bank of Princeton provides various banking products and services in the United States. The company offers checking accounts, savings accounts, attorney trust accounts, money market accounts, and certificates of deposit; and commercial real estate and multi-family, commercial and industrial, construction, residential first-lien mortgage, home equity, and consumer loans, as well as lines of credit.

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