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

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the target of a significant increase in short interest in 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. Based on an average daily volume of 9,400 shares, the short-interest ratio is presently 3.7 days. Approximately 0.7% of the company’s shares are sold short.

Analyst Ratings Changes

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

Princeton Bancorp Stock Performance

Shares of BPRN opened at $30.43 on Wednesday. The firm has a market cap of $208.42 million, a P/E ratio of 18.11 and a beta of 0.54. Princeton Bancorp has a twelve month low of $29.02 and a twelve month high of $39.35. The firm’s 50 day moving average price is $32.12 and its two-hundred day moving average price is $34.97.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings data 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). On average, sell-side analysts anticipate that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.

Princeton Bancorp Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.94%. Princeton Bancorp’s dividend payout ratio is currently 71.43%.

Insider Activity at Princeton Bancorp

In related news, Director Martin Tuchman bought 22,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was 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 $20,579,202.11. This represents a 3.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Princeton Bancorp

A number of institutional investors have recently made changes to their positions in the business. Systematic Financial Management LP grew its position in Princeton Bancorp by 11.1% in the third quarter. Systematic Financial Management LP now owns 318,772 shares of the company’s stock valued at $11,788,000 after purchasing an additional 31,777 shares in the last quarter. Banc Funds Co. LLC boosted its stake in shares of Princeton Bancorp by 10.3% during the 3rd quarter. Banc Funds Co. LLC now owns 340,716 shares of the company’s stock worth $12,600,000 after buying an additional 31,700 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Princeton Bancorp in the 4th quarter valued at about $677,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Princeton Bancorp in the third quarter valued at about $382,000. Finally, Focus Partners Wealth bought a new stake in Princeton Bancorp during the fourth quarter worth about $345,000. 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.