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

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 34,500 shares, a decline of 17.1% from the August 15th total of 41,600 shares. Based on an average daily trading volume, of 11,600 shares, the days-to-cover ratio is currently 3.0 days. Currently, 0.7% of the company’s stock are sold short.

Princeton Bancorp Price Performance

Shares of BPRN traded up $0.29 on Tuesday, reaching $37.50. 4,145 shares of the stock traded hands, compared to its average volume of 11,010. Princeton Bancorp has a 12 month low of $28.10 and a 12 month high of $39.21. The firm has a market cap of $236.96 million, a price-to-earnings ratio of 9.90 and a beta of 0.59. The stock’s 50-day moving average price is $36.35 and its 200-day moving average price is $32.57.

Princeton Bancorp (NASDAQ:BPRN) last posted its earnings results on Thursday, July 25th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The business had revenue of $31.50 million during the quarter, compared to the consensus estimate of $17.77 million. As a group, equities research analysts forecast that Princeton Bancorp will post 2.97 earnings per share for the current fiscal year.

Princeton Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were given a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 3.20%. Princeton Bancorp’s dividend payout ratio (DPR) is presently 31.91%.

Insider Activity

In related news, Director Robert N. Ridolfi sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at $475,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Princeton Bancorp news, Director Robert N. Ridolfi sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $38.00, for a total transaction of $38,000.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at $475,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephanie Adkins sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $35.10, for a total value of $70,200.00. Following the sale, the insider now owns 7,377 shares of the company’s stock, valued at approximately $258,932.70. The disclosure for this sale can be found here. 23.00% of the stock is owned by corporate insiders.

Institutional Trading of Princeton Bancorp

A number of large investors have recently bought and sold shares of BPRN. Empowered Funds LLC boosted its stake in shares of Princeton Bancorp by 8.0% in the 1st quarter. Empowered Funds LLC now owns 28,404 shares of the company’s stock valued at $874,000 after purchasing an additional 2,100 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Princeton Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 301,721 shares of the company’s stock valued at $9,287,000 after purchasing an additional 1,810 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Princeton Bancorp in the first quarter valued at about $441,000. Bank of New York Mellon Corp boosted its position in 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 buying an additional 321 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Princeton Bancorp by 1.5% during the second quarter. Acadian Asset Management LLC now owns 79,958 shares of the company’s stock worth $2,644,000 after buying an additional 1,202 shares in the last quarter. 43.36% of the stock is currently owned by institutional investors.

About Princeton Bancorp

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.