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

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 29,700 shares, an increase of 20.7% from the January 31st total of 24,600 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average trading volume of 9,600 shares, the short-interest ratio is currently 3.1 days.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Princeton Bancorp news, Director Martin Tuchman bought 22,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $32.71 per share, for a total transaction of $719,620.00. Following the acquisition, the director now directly owns 629,141 shares of the company’s stock, valued at approximately $20,579,202.11. The trade was a 3.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.00% of the company’s stock.

Hedge Funds Weigh In On Princeton Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Banc Funds Co. LLC boosted its stake in shares of Princeton Bancorp by 10.3% in the 3rd quarter. Banc Funds Co. LLC now owns 340,716 shares of the company’s stock valued at $12,600,000 after purchasing an additional 31,700 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Princeton Bancorp by 6.5% in the 4th quarter. Systematic Financial Management LP now owns 339,411 shares of the company’s stock worth $11,686,000 after acquiring an additional 20,639 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Princeton Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 128,532 shares of the company’s stock valued at $4,425,000 after buying an additional 6,663 shares during the period. Geode Capital Management LLC boosted its stake in Princeton Bancorp by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 116,891 shares of the company’s stock worth $4,025,000 after acquiring an additional 3,890 shares in the last quarter. Finally, State Street Corp boosted 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 worth $2,613,000 after purchasing an additional 733 shares in the last quarter. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

Princeton Bancorp Trading Up 0.1 %

Shares of NASDAQ BPRN traded up $0.05 during mid-day trading on Thursday, hitting $30.70. The company had a trading volume of 1,908 shares, compared to its average volume of 8,156. The company has a market capitalization of $210.23 million, a price-to-earnings ratio of 18.27 and a beta of 0.54. Princeton Bancorp has a 1 year low of $29.02 and a 1 year high of $39.35. The stock’s 50-day moving average price is $32.71 and its 200-day moving average price is $35.35.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.11). As a group, equities research analysts forecast that Princeton Bancorp will post 3.35 earnings per share for the current year.

Princeton Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, February 5th. Princeton Bancorp’s dividend payout ratio is currently 71.43%.

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.