Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Expands By 20.7%

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

Wall Street Analysts Forecast Growth

BPRN has been the topic of a number of analyst reports. Janney Montgomery Scott raised shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Tuesday, February 4th. Hovde Group started coverage on shares of Princeton Bancorp in a report on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 price target on the stock.

Insider Buying and Selling

In other news, Director Martin Tuchman bought 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price of $32.71 per share, with a total value of $719,620.00. Following the acquisition, the director now 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 legal filing with the SEC, which is available through this link. 23.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Princeton Bancorp

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in shares of Princeton Bancorp by 565.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,071 shares of the company’s stock valued at $37,000 after purchasing an additional 910 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Princeton Bancorp by 38.6% in the 4th quarter. Wells Fargo & Company MN now owns 3,222 shares of the company’s stock valued at $111,000 after purchasing an additional 898 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Princeton Bancorp by 49.2% in the 4th quarter. Bank of America Corp DE now owns 5,509 shares of the company’s stock valued at $190,000 after purchasing an additional 1,816 shares in the last quarter. Princeton Capital Management LLC purchased a new stake in shares of Princeton Bancorp in the 3rd quarter valued at $215,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Princeton Bancorp in the 3rd quarter valued at $222,000. Hedge funds and other institutional investors own 43.36% of the company’s stock.

Princeton Bancorp Price Performance

Shares of NASDAQ:BPRN opened at $32.35 on Friday. The company’s fifty day moving average price is $32.60 and its 200-day moving average price is $35.29. The firm has a market capitalization of $221.57 million, a price-to-earnings ratio of 19.26 and a beta of 0.54. Princeton Bancorp has a one year low of $29.02 and a one year high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly 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). As a group, equities research analysts expect that Princeton Bancorp will post 3.35 EPS for the current year.

Princeton Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.30 dividend. 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 3.71%. Princeton Bancorp’s dividend payout ratio (DPR) is 71.43%.

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.