Princeton Bancorp, Inc. (NASDAQ:BPRN) director Martin Tuchman has recently increased his stake in the company through a series of stock purchases, as indicated by the latest regulatory filings. The transactions, which took place on May 21 and 22, 2024, involved the acquisition of shares at prices ranging from $30.7106 to $31.00.
On the first day, Tuchman acquired 1,000 shares at the higher end of the price range, costing him $31,000. The following day, he purchased an additional 1,187 shares, this time at the slightly lower price, amounting to $36,453. In total, the two transactions added up to $67,453 worth of Princeton Bancorp stock.
Following these purchases, Tuchman's direct holdings in Princeton Bancorp have increased significantly. The director, who also holds a notable position as a ten percent owner, now directly owns 94,111 shares. Additionally, Tuchman is associated with indirect ownership through his role as the trustee of the Martin Tuchman Revocable Trust, which holds 600,141 shares of the company's common stock.
These transactions come to light through the filing with the Securities and Exchange Commission and provide a glimpse into the investment moves of Princeton Bancorp's insiders. Investors often monitor such insider activities to gain insights into the confidence levels of company executives and directors in the firm's prospects.
Princeton Bancorp, based in Pennsylvania, operates as a state commercial bank and has been a player in the financial industry under its current organization name, 02 Finance. The company's stock is publicly traded, with its business address located in Reading, PA, and is part of the broader banking sector.
Martin Tuchman, through his recent stock purchases, has demonstrated a tangible commitment to Princeton Bancorp, potentially signaling his belief in the company's value and future performance.
InvestingPro Insights
Amidst the insider trading activity at Princeton Bancorp, Inc. (NASDAQ:BPRN), investors looking to gauge the company's financial health and future prospects can find valuable insights through the latest data and analysis. With a market capitalization of $192.48 million, the company presents certain metrics that could influence an investor's view on the stock's potential.
One key measure of a company's earnings power is its P/E ratio, and Princeton Bancorp's stands at 8.02, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 9.27. This suggests a relatively moderate valuation of the company's earnings. Additionally, the company's dividend yield as of May 2024 is 3.91%, which is particularly notable given that Princeton Bancorp has raised its dividend for six consecutive years, an InvestingPro Tip that highlights the company's commitment to returning value to shareholders.
Princeton Bancorp's gross profit for the last twelve months as of Q1 2024 was $68.81 million, indicating the revenue left after accounting for the cost of goods sold. However, the company suffers from weak gross profit margins, a point of concern for potential investors. Despite this, analysts predict the company will be profitable this year, and it has been profitable over the last twelve months, which aligns with Martin Tuchman's recent investment decisions.
For those seeking more comprehensive analysis and additional InvestingPro Tips, there are 5 more tips available on Princeton Bancorp at InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a deeper dive into the company's performance metrics and potential investment opportunities.
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