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

Zacks Investment Research upgraded shares of Bank Of Princeton (NASDAQ:BPRN) from a sell rating to a hold rating in a research report sent to investors 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. “

A number of other analysts also recently weighed in on BPRN. ValuEngine downgraded shares of Bank Of Princeton from a hold rating to a sell rating in a research report on Thursday, November 1st. Boenning Scattergood reissued a buy rating on shares of Bank Of Princeton in a research report on Friday, October 26th. Finally, B. Riley decreased their target price on shares of Bank Of Princeton from $36.00 to $32.00 and set a hold rating for the company in a research report on Monday.

NASDAQ:BPRN traded up $0.27 on Wednesday, reaching $30.24. 1,231 shares of the stock traded hands, compared to its average volume of 8,560. The company has a market capitalization of $192.11 million, a PE ratio of 15.13 and a beta of 0.19. Bank Of Princeton has a 1-year low of $26.77 and a 1-year high of $35.45.

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 analysts’ consensus estimates of $0.54. The firm had revenue of $11.19 million for the quarter, compared to analyst estimates of $11.67 million. As a group, research analysts expect that Bank Of Princeton will post 2.15 EPS for the current fiscal year.

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

Several institutional investors have recently bought and sold shares of BPRN. BlackRock Inc. bought a new position in shares of Bank Of Princeton during the 2nd quarter worth approximately $9,039,000. Systematic Financial Management LP boosted its holdings in shares of Bank Of Princeton by 91.4% during the 2nd quarter. Systematic Financial Management LP now owns 214,469 shares of the company’s stock worth $7,131,000 after buying an additional 102,429 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Bank Of Princeton by 58.9% during the 1st quarter. Millennium Management LLC now owns 133,098 shares of the company’s stock worth $4,591,000 after buying an additional 49,330 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Bank Of Princeton by 727.9% during the 2nd quarter. Northern Trust Corp now owns 55,393 shares of the company’s stock worth $1,842,000 after buying an additional 48,702 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Bank Of Princeton during the 2nd quarter worth approximately $595,000. Hedge funds and other institutional investors own 34.14% of the company’s stock.

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.

Further Reading: Are Wall Street analysts’ stock ratings worth following?

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