Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Grows By 16.2%

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

Princeton Bancorp Price Performance

NASDAQ BPRN opened at $31.21 on Friday. Princeton Bancorp has a 12 month low of $29.02 and a 12 month high of $39.35. The company has a 50-day moving average of $32.03 and a 200-day moving average of $34.91. The company has a market cap of $213.76 million, a P/E ratio of 18.58 and a beta of 0.54.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings data 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 anticipate that Princeton Bancorp will post 3.35 EPS 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 paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Wednesday, February 5th. Princeton Bancorp’s dividend payout ratio is currently 71.43%.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott raised shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Tuesday, February 4th.

Insider Activity at Princeton Bancorp

In related news, Director Martin Tuchman bought 22,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $32.71 per share, for a total transaction of $719,620.00. Following the transaction, the director now owns 629,141 shares of the company’s stock, valued at approximately $20,579,202.11. This trade represents a 3.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 23.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new position in shares of Princeton Bancorp during the 4th quarter valued at about $216,000. Systematic Financial Management LP grew its holdings in shares of Princeton Bancorp by 6.5% during the 4th quarter. Systematic Financial Management LP now owns 339,411 shares of the company’s stock worth $11,686,000 after purchasing an additional 20,639 shares during the period. Focus Partners Wealth purchased a new stake in shares of Princeton Bancorp during the 4th quarter worth about $345,000. Citadel Advisors LLC grew its holdings in shares of Princeton Bancorp by 104.6% during the 4th quarter. Citadel Advisors LLC now owns 16,766 shares of the company’s stock worth $577,000 after purchasing an additional 8,570 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Princeton Bancorp by 49.2% during the 4th quarter. Bank of America Corp DE now owns 5,509 shares of the company’s stock worth $190,000 after purchasing an additional 1,816 shares during the period. 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.