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

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the recipient of a significant decline in short interest during 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. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 10,800 shares, the days-to-cover ratio is presently 6.4 days.

Princeton Bancorp Trading Up 3.2 %

BPRN opened at $38.66 on Wednesday. The firm has a market cap of $244.33 million, a P/E ratio of 10.28 and a beta of 0.60. Princeton Bancorp has a 12 month low of $28.07 and a 12 month high of $38.68. The stock has a 50-day moving average of $32.74 and a 200 day moving average of $31.67.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.69 by $0.11. The company 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 earnings per share for the current fiscal year.

Princeton Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 9th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 3.10%. Princeton Bancorp’s dividend payout ratio (DPR) is presently 31.91%.

Insider Transactions at Princeton Bancorp

In other news, Director Martin Tuchman bought 1,000 shares of Princeton Bancorp stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average cost of $29.95 per share, with a total value of $29,950.00. Following the completion of the acquisition, the director now owns 91,924 shares of the company’s stock, valued at approximately $2,753,123.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Stephanie Adkins sold 947 shares of Princeton Bancorp stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $30.25, for a total value of $28,646.75. Following the completion of the transaction, the insider now 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 this hyperlink. Also, Director Martin Tuchman purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average price of $29.95 per share, with a total value of $29,950.00. Following the transaction, the director now owns 91,924 shares of the company’s stock, valued at approximately $2,753,123.80. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 6,306 shares of company stock valued at $191,186 and have sold 2,212 shares valued at $74,610. Insiders own 23.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Princeton Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 301,721 shares of the company’s stock valued at $9,287,000 after buying an additional 1,810 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of Princeton Bancorp during the fourth quarter valued at approximately $2,025,000. Empowered Funds LLC boosted its position in shares of Princeton Bancorp by 8.0% during the first quarter. Empowered Funds LLC now owns 28,404 shares of the company’s stock valued at $874,000 after buying an additional 2,100 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Princeton Bancorp by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 24,894 shares of the company’s stock valued at $824,000 after purchasing an additional 321 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of Princeton Bancorp in the first quarter valued at approximately $441,000. Hedge funds and other institutional investors 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.