Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Drops By 11.2%

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 24,600 shares, a drop of 11.2% from the January 15th total of 27,700 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 10,400 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Ratings Changes

Several research firms have issued reports on BPRN. Hovde Group assumed coverage on shares of Princeton Bancorp in a report on Tuesday, November 19th. They set a “market perform” rating and a $40.00 price objective on the stock. Janney Montgomery Scott upgraded Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, February 4th.

Princeton Bancorp Stock Performance

Shares of NASDAQ BPRN traded up $0.07 during midday trading on Monday, reaching $31.82. 4,605 shares of the stock were exchanged, compared to its average volume of 8,394. The stock has a market capitalization of $217.97 million, a P/E ratio of 18.94 and a beta of 0.59. The company has a 50 day simple moving average of $33.76 and a 200 day simple moving average of $35.70. Princeton Bancorp has a twelve month low of $29.02 and a twelve month high of $39.35.

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

Princeton Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a $0.30 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.20 annualized dividend and a yield of 3.77%. Princeton Bancorp’s dividend payout ratio is presently 71.43%.

Insider Activity at Princeton Bancorp

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 acquired at an average cost of $32.71 per share, with a total value of $719,620.00. Following the purchase, the director now directly owns 629,141 shares in the company, valued at $20,579,202.11. This represents a 3.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 23.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Princeton Bancorp

Several institutional investors have recently modified their holdings of BPRN. Geode Capital Management LLC raised its stake in shares of Princeton Bancorp by 2.8% in the third quarter. Geode Capital Management LLC now owns 113,001 shares of the company’s stock valued at $4,179,000 after acquiring an additional 3,078 shares in the last quarter. Barclays PLC boosted its stake in shares of 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 grew its position in shares of Princeton Bancorp by 1.0% during the third quarter. State Street Corp now owns 70,670 shares of the company’s stock worth $2,613,000 after buying an additional 733 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Princeton Bancorp by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,073 shares of the company’s stock worth $520,000 after buying an additional 860 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Princeton Bancorp by 98.3% in the third quarter. JPMorgan Chase & Co. now owns 14,568 shares of the company’s stock valued at $539,000 after acquiring an additional 7,220 shares in the last quarter. Institutional investors and hedge funds own 43.36% of the company’s stock.

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.