Princeton Bancorp, Inc. (NASDAQ:BPRN) Director Martin Tuchman has recently increased his stake in the company with two separate stock purchases totaling $74,531. The transactions, which took place on May 23 and May 24, 2024, were disclosed in a filing with the Securities and Exchange Commission.
On May 23, Tuchman acquired 1,000 shares of Princeton Bancorp's common stock at a price of $30.55 per share. The following day, he purchased an additional 1,442 shares at $30.50 each. These investments have brought Tuchman's direct holdings to 96,553 shares in the company. In addition to his direct ownership, Tuchman holds an indirect interest through his role as the trustee of the Martin Tuchman Revocable Trust, which owns 600,141 shares.
Tuchman, who serves as a director and is also a ten percent owner of the bank, has demonstrated his confidence in Princeton Bancorp through these recent acquisitions. The purchases were made at prices ranging from $30.5 to $30.55, reflecting a commitment to the bank's future amidst the current financial landscape.
Investors often monitor insider buying and selling as it can provide insights into the perspectives of those most familiar with the company. In this case, Tuchman's purchases may be seen as a positive signal regarding the bank's prospects.
Princeton Bancorp, based in Pennsylvania, operates as a state commercial bank and has been serving its community with a range of financial services. The company's stock is publicly traded on the NASDAQ exchange under the ticker symbol BPRN.
The details of the transactions were formalized in the ownership document signed by Martin Tuchman, with Edward Hogan acting as attorney-in-fact, on May 28, 2024.
InvestingPro Insights
As Princeton Bancorp, Inc. (NASDAQ:BPRN) sees insider confidence with Director Martin Tuchman's recent stock purchases, the company's financial metrics offer additional insights. The bank's market capitalization stands at $193.3 million, reflecting its valuation within the industry. A notable point for investors is the company's price-to-earnings (P/E) ratio, which is currently at 8.05, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 9.31. This suggests that the company is potentially undervalued when compared to industry averages.
The bank's dividend yield is also an attractive feature, standing at 3.91% as of the last dividend ex-date on May 9, 2024. This is complemented by one of the InvestingPro Tips highlighting that Princeton Bancorp has raised its dividend for 6 consecutive years, indicating a commitment to returning value to shareholders. Moreover, the company has been profitable over the last twelve months, which aligns with analysts' predictions that the bank will remain profitable this year.
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