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what it is
Princeton Bancorp runs The Bank of Princeton, a community bank with 37 branches making loans and gathering deposits across New Jersey, Pennsylvania, and New York.
how it gets paid
Last year Princeton Bancorp made $131M in revenue. Commercial & multifamily mortgages was the main engine at $52M, or 40% of sales.
why it's growing
Revenue grew 6.2% last year. Latest-quarter revenue was $99M, up 202% vs. prior year, according to SEC filing data.
what just happened
The quarter said one thing and the year said another: EPS came in at $0.95, but full-year EPS finished at just $1.55.
At a glance
B+ balance sheet — decent shape, but not bulletproof
45/100 earnings predictability — expect surprises
14.2x trailing p/e — the market's not buying it — or you found a deal
4.2% dividend yield — cash in your pocket every quarter
$1.55 fy2024 eps est
xvary composite: 64/100 — average
What they do
Princeton Bancorp runs The Bank of Princeton, a community bank with 37 branches making loans and gathering deposits across New Jersey, Pennsylvania, and New York.
This is a neighborhood bank, and neighborhood still matters. Princeton serves 35 branches in New Jersey plus markets in Pennsylvania and 2 branches in metro New York, with $2.23 billion in assets at September 30, 2025. Community banking moat (local relationships that keep your deposits and loan business nearby) → plain English: people like dealing with a bank that knows their market → so what: that local stickiness helps a 247-employee bank punch above its size.
How they make money
$131M
annual revenue · their business grew +6.2% last year
Commercial & multifamily mortgages
$52M
Residential mortgages
$29M
Construction & commercial business loans
$24M
Deposit service fees
$15M
Consumer & home equity loans
$11M
The products that matter
commercial property lending
Commercial Real Estate Lending
primary lending focus
this is the center of gravity. management's year-end framing makes clear the model is commercial real estate-focused, which means asset quality matters more than fast balance-sheet growth.
core risk
spread-based banking revenue
Net Interest Income
$77.6M · 59.2% of revenue
this is the main earnings engine. in human-speak: it is the money left after the bank pays depositors and collects interest from borrowers. if deposit costs stay high, this line gets squeezed first.
profit engine
fees and banking services
Non-Interest Income
$53.4M · 40.8% of revenue
a $53.4M fee stream gives you more than pure loan-spread exposure. the catch is that it is a buffer, not a shield, if credit starts to wobble.
buffer, not shield
Key numbers
4.2%
dividend yield
Dividend yield → the cash you get paid for owning the stock each year → so what: you are being paid $4.20 annually for every $100 invested while you wait for profits to settle down.
14.2x
trailing p/e
P/E → how many dollars you pay for one dollar of profit → so what: BPRN is priced cheaper than a fast grower, but that discount exists because 2024 earnings got hit.
$2.23B
total assets
Assets → the size of the bank's balance sheet → so what: this is a real community bank franchise, but still tiny next to national peers.
$1.55
fy2024 eps
EPS → profit per share → so what: this is down from $4.03 in 2023, which tells you the story is income today versus earnings stability tomorrow.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 80 / 100
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for BPRN right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The quarter said one thing and the year said another: EPS came in at $0.95, but full-year EPS finished at just $1.55.
Latest-quarter revenue was $99M, up 202% vs. prior year, according to SEC filing data. The quieter ugly fact is the full 2024 EPS path: $0.68, $0.80, -$0.68, and $0.75, which adds up to a very uneven year.
$99M
revenue
$0.95
eps
+202%
revenue growth
the number that mattered
The number that mattered was $1.55 in full-year EPS because it was down from $4.03 in 2023, and that reset explains why the stock still looks cheap.
source: company earnings report, 2026
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What could go wrong
the core risk is not abstract. it is a small commercial real estate lender taking credit stress in the exact book that drives the story.
high
Commercial real estate concentration
Management's own framing points to a commercial real estate-focused model. If office, retail, or local property values weaken, the loan book feels it directly.
If the bank's main lending niche gets worse, the market will stop treating 14.2x earnings like a reasonable multiple.
med
Margin pressure in the spread business
Net interest income was $77.6M last year, or 59.2% of revenue. If deposit costs stay elevated or loan yields stop improving, the core earnings engine slows.
That would pressure the line item supporting both earnings and the dividend.
med
Small scale means less room for mistakes
At roughly $131M in annual revenue and a $227M market cap, one weak quarter or one bad credit pocket matters more than it would at a much larger bank.
You do not get megabank diversification here. You get focus, and focus cuts both ways.
commercial real estate stress and spread compression would hit the same $77.6M net interest income engine that carries most of the economics.
source: institutional data · regulatory filings · risk analysis
Pay attention to
risk
commercial real estate credit trends
This is the whole map. If asset quality slips in CRE, the market will stop caring that the stock trades at 14.2x earnings.
calendar
Q1 2026 dividend payment
The declared $0.35 quarterly dividend is payable on February 27, 2026. Consistency supports the story. Any change gets attention immediately.
metric
net interest income
Last year's $77.6M net interest income is the number to track. If it stalls or falls, the income case weakens with it.
trend
short interest and sentiment
Short interest declined in the last month. That's useful context, but for a bank this size, you should trust credit performance more than positioning signals.
Analyst rankings
earnings predictability
45 / 100
in human-speak, analysts do not see this as a clean, repeatable earnings machine. you should expect lumpier quarters than you would from a larger bank.
risk rank
2
that's safer than 80% of stocks on this system. it is not a promise that the loan book stays immune to a bad property cycle.
source: institutional data
Institutional activity
institutional ownership data for BPRN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$36
current price
n/a
target midpoint · n/a from current
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