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

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 24,600 shares, a decline of 11.2% from the January 15th total of 27,700 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 10,400 shares, the days-to-cover ratio is currently 2.4 days.

Princeton Bancorp Price Performance

NASDAQ BPRN traded up $0.07 on Monday, hitting $31.82. The company had a trading volume of 4,605 shares, compared to its average volume of 8,394. The company has a market capitalization of $217.97 million, a PE ratio of 18.94 and a beta of 0.59. Princeton Bancorp has a 12-month low of $29.02 and a 12-month high of $39.35. The company’s fifty day moving average price is $33.76 and its 200-day moving average price is $35.70.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings results 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 EPS for the current year.

Princeton Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Wednesday, February 5th. Princeton Bancorp’s dividend payout ratio (DPR) is 71.43%.

Analysts Set New Price Targets

BPRN has been the topic of several recent 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 research note on Tuesday, February 4th. Hovde Group assumed coverage on Princeton Bancorp in a research report on Tuesday, November 19th. They set a “market perform” rating and a $40.00 price target on the stock.

Insider Activity

In other news, Director Martin Tuchman purchased 22,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were purchased at an average cost of $32.71 per share, with a total value of $719,620.00. Following the completion of the acquisition, the director now owns 629,141 shares of the company’s stock, valued at approximately $20,579,202.11. This represents a 3.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.00% of the company’s stock.

Hedge Funds Weigh In On Princeton Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Copeland Capital Management LLC acquired a new position in Princeton Bancorp during the third quarter worth $47,000. Masso Torrence Wealth Management Inc. acquired a new position in shares of Princeton Bancorp during the 3rd quarter valued at about $302,000. GSA Capital Partners LLP purchased a new stake in shares of Princeton Bancorp in the third quarter valued at about $235,000. Empowered Funds LLC grew its holdings in shares of Princeton Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 32,172 shares of the company’s stock valued at $1,190,000 after purchasing an additional 1,608 shares during the period. Finally, Princeton Capital Management LLC acquired a new stake in Princeton Bancorp during the third quarter worth about $215,000. 43.36% of the stock is owned by hedge funds and other institutional investors.

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.