Zacks Investment Research Lowers Princeton Bank (NASDAQ: BPRN) to Hold


Princeton Bank (NASDAQ: BPRN) has been downgraded from Zacks investment research from a “buy” note to a “keep” note in a report published on Friday, Zacks.com reports.

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

Actions of BPRN traded up $ 0.22 at midday on Friday, reaching $ 29.18. 4,708 shares of the company were traded in the hands, compared to its average volume of 19,528. Bank of Princeton has a one-year low at $ 21.26 and a one-year high at $ 31.31 . The company has a market cap of $ 197.26 million, a P / E ratio of 9.79 and a beta of 0.65. The company’s 50-day mobile average price is $ 30.00, and its 200-day mobile average price is $ 29.81.

Bank of Princeton (NASDAQ: BPRN) last released its results on Friday, October 22. The company reported earnings per share (EPS) of $ 0.88 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.78 of $ 0.10. The company posted revenue of $ 17.43 million for the quarter, compared to analysts’ expectations of $ 15.97 million. Equity research analysts predict that Bank of Princeton will post 3.21 EPS for the current year.

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A number of hedge funds have recently changed their holdings to BPRN. Millennium Management LLC purchased a new stake in Bank of Princeton in the second quarter for a value of $ 2,565,000. Systematic Financial Management LP increased its stake in Bank of Princeton by 24.5% in the second quarter. Systematic Financial Management LP now owns 313,993 shares of the company valued at $ 9,002,000 after purchasing an additional 61,727 shares during the period. Fourthstone LLC purchased a new stake in Bank of Princeton in the second quarter valued at $ 878,000. Renaissance Technologies LLC increased its stake in Bank of Princeton by 44.6% in the second quarter. Renaissance Technologies LLC now owns 82,723 shares of the company valued at $ 2,372,000 after purchasing an additional 25,500 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Bank of Princeton in the second quarter valued at $ 688,000. 33.62% of the shares are currently held by institutional investors.

Princeton Bank Company Profile

The Bank of Princeton provides personal, business and deposit loan services. It offers traditional retail banking solutions, residential mortgages for one to four families, multi-family and commercial mortgages, construction loans, commercial loans and consumer loans, including home equity loans and lines of credit.

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