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

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 31,600 shares, a drop of 18.6% from the October 31st total of 38,800 shares. Based on an average daily volume of 8,100 shares, the short-interest ratio is presently 3.9 days. Currently, 0.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Hovde Group began coverage on shares of Princeton Bancorp in a report on Tuesday, November 19th. They set a “market perform” rating and a $40.00 target price on the stock.

Princeton Bancorp Stock Performance

Shares of BPRN stock traded up $0.38 on Monday, hitting $37.45. 1,490 shares of the company’s stock traded hands, compared to its average volume of 10,460. Princeton Bancorp has a one year low of $29.02 and a one year high of $39.35. The company’s fifty day simple moving average is $36.91 and its 200 day simple moving average is $35.14. The stock has a market capitalization of $256.53 million, a price-to-earnings ratio of 21.18 and a beta of 0.59.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The business had revenue of $33.87 million for the quarter, compared to analyst estimates of $19.30 million. During the same quarter in the previous year, the business posted $0.80 earnings per share. As a group, sell-side analysts anticipate that Princeton Bancorp will post 2.98 earnings per share for the current fiscal year.

Princeton Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Tuesday, November 5th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Tuesday, November 5th. Princeton Bancorp’s dividend payout ratio (DPR) is presently 68.57%.

Institutional Investors Weigh In On Princeton Bancorp

A number of large investors have recently added to or reduced their stakes in BPRN. Copeland Capital Management LLC purchased a new position in shares of Princeton Bancorp during the third quarter valued at about $47,000. Princeton Capital Management LLC purchased a new position in shares of Princeton Bancorp during the third quarter valued at about $215,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Princeton Bancorp during the third quarter valued at about $222,000. GSA Capital Partners LLP purchased a new position in shares of Princeton Bancorp during the third quarter valued at about $235,000. Finally, Barclays PLC increased its position in shares of Princeton Bancorp by 262.2% during the third 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. 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.