Princeton Bancorp, Inc. (NASDAQ:BPRN) Sees Large Decrease in Short Interest

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 69,300 shares, a decline of 5.7% from the June 30th total of 73,500 shares. Based on an average daily volume of 10,800 shares, the days-to-cover ratio is currently 6.4 days. Currently, 1.6% of the shares of the company are short sold.

Insider Buying and Selling at Princeton Bancorp

In other Princeton Bancorp news, insider Stephanie Adkins sold 947 shares of Princeton Bancorp stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $30.25, for a total value of $28,646.75. Following the transaction, the insider now directly owns 9,737 shares in the company, valued at $294,544.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Robert N. Ridolfi sold 1,000 shares of Princeton Bancorp stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $38.00, for a total value of $38,000.00. Following the sale, the director now owns 12,500 shares of the company’s stock, valued at $475,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie Adkins sold 947 shares of Princeton Bancorp stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $30.25, for a total transaction of $28,646.75. Following the completion of the sale, the insider now directly owns 9,737 shares in the company, valued at approximately $294,544.25. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 6,306 shares of company stock worth $191,186 and have sold 2,212 shares worth $74,610. 23.00% of the stock is currently owned by company insiders.

Institutional Trading of Princeton Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Princeton Bancorp during the fourth quarter worth about $101,000. Ritholtz Wealth Management purchased a new stake in Princeton Bancorp during the fourth quarter worth about $218,000. Quadrature Capital Ltd purchased a new stake in Princeton Bancorp during the first quarter worth about $441,000. Bank of New York Mellon Corp boosted its holdings in Princeton Bancorp by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 24,894 shares of the company’s stock worth $824,000 after buying an additional 321 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Princeton Bancorp by 8.0% during the first quarter. Empowered Funds LLC now owns 28,404 shares of the company’s stock worth $874,000 after buying an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 43.36% of the company’s stock.

Princeton Bancorp Stock Up 3.2 %

Shares of NASDAQ:BPRN opened at $38.66 on Wednesday. The company has a market cap of $244.33 million, a price-to-earnings ratio of 10.28 and a beta of 0.60. The firm’s 50-day simple moving average is $32.74 and its 200-day simple moving average is $31.67. Princeton Bancorp has a fifty-two week low of $28.07 and a fifty-two week high of $38.68.

Princeton Bancorp (NASDAQ:BPRN) last issued its earnings results on Thursday, July 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. The firm had revenue of $31.50 million during the quarter, compared to analysts’ expectations of $17.77 million. On average, research analysts forecast that Princeton Bancorp will post 2.84 EPS for the current year.

Princeton Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 9th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, August 9th. Princeton Bancorp’s dividend payout ratio is currently 31.91%.

Princeton Bancorp Company Profile

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.