Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Update

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 34,500 shares, a growth of 16.2% from the February 13th total of 29,700 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 9,400 shares, the short-interest ratio is currently 3.7 days.

Princeton Bancorp Trading Up 1.1 %

NASDAQ:BPRN opened at $30.43 on Wednesday. The stock has a 50 day simple moving average of $32.12 and a 200 day simple moving average of $34.97. The stock has a market cap of $208.42 million, a P/E ratio of 18.11 and a beta of 0.54. Princeton Bancorp has a 1-year low of $29.02 and a 1-year high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last posted its earnings results on Tuesday, January 28th. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.11). As a group, sell-side analysts forecast that Princeton Bancorp will post 3.35 EPS for the current year.

Princeton Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.94%. Princeton Bancorp’s payout ratio is presently 71.43%.

Insider Buying and Selling

In other Princeton Bancorp news, Director Martin Tuchman bought 22,000 shares of Princeton Bancorp stock in a transaction dated Tuesday, February 11th. The stock was bought at an average cost of $32.71 per share, for a total transaction of $719,620.00. Following the purchase, the director now owns 629,141 shares of the company’s stock, valued at $20,579,202.11. The trade was a 3.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BPRN. Geode Capital Management LLC grew its position in Princeton Bancorp by 2.8% during the third quarter. Geode Capital Management LLC now owns 113,001 shares of the company’s stock worth $4,179,000 after buying an additional 3,078 shares in the last quarter. Barclays PLC increased its holdings in Princeton Bancorp by 262.2% in the 3rd quarter. Barclays PLC now owns 6,599 shares of the company’s stock valued at $244,000 after buying an additional 4,777 shares during the period. State Street Corp raised its position in shares of Princeton Bancorp by 1.0% in the 3rd quarter. State Street Corp now owns 70,670 shares of the company’s stock valued at $2,613,000 after buying an additional 733 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Princeton Bancorp by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,073 shares of the company’s stock worth $520,000 after acquiring an additional 860 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Princeton Bancorp by 1.9% during the 4th quarter. Empowered Funds LLC now owns 32,772 shares of the company’s stock worth $1,128,000 after acquiring an additional 600 shares during the period. 43.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Janney Montgomery Scott raised shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Tuesday, February 4th. Hovde Group assumed coverage on shares of Princeton Bancorp in a research note on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 price target on the stock.

About Princeton Bancorp

Princeton Bancorp, Inc operates as the bank holding company for The Bank of Princeton that provides various banking products and services. It accepts various deposit products, including checking, savings, attorney trust, and money market accounts, as well as certificates of deposit. The company also offers traditional retail banking services, one-to-four-family residential mortgage loans, multi-family and commercial mortgage loans, construction loans, and commercial business loans, as well as consumer loans, including home equity loans and lines of credit.