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

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 38,200 shares, an increase of 8.8% from the September 15th total of 35,100 shares. Based on an average daily volume of 10,400 shares, the short-interest ratio is presently 3.7 days. Approximately 0.8% of the shares of the company are short sold.

Princeton Bancorp Trading Up 0.9 %

Shares of NASDAQ BPRN traded up $0.33 during trading on Wednesday, reaching $37.34. 9,700 shares of the company traded hands, compared to its average volume of 10,780. The stock has a market cap of $235.95 million, a P/E ratio of 9.84 and a beta of 0.58. The firm’s fifty day simple moving average is $36.54 and its 200 day simple moving average is $33.52. Princeton Bancorp has a 12-month low of $28.44 and a 12-month high of $39.21.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. The company had revenue of $31.50 million for the quarter, compared to analysts’ expectations of $17.77 million. As a group, research analysts expect that Princeton Bancorp will post 2.94 EPS for the current year.

Princeton Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Friday, August 9th. Princeton Bancorp’s dividend payout ratio is currently 31.91%.

Insiders Place Their Bets

In other Princeton Bancorp news, insider Stephanie Adkins sold 2,000 shares of Princeton Bancorp stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $35.10, for a total transaction of $70,200.00. Following the completion of the sale, the insider now owns 7,377 shares of the company’s stock, valued at approximately $258,932.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Princeton Bancorp news, insider Stephanie Adkins sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $35.10, for a total transaction of $70,200.00. Following the completion of the transaction, the insider now directly owns 7,377 shares of the company’s stock, valued at approximately $258,932.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert N. Ridolfi sold 1,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 12,500 shares in the company, valued at $475,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.00% of the stock is owned by insiders.

Institutional Trading of Princeton Bancorp

A number of hedge funds have recently added to or reduced their stakes in BPRN. Quadrature Capital Ltd purchased a new position in Princeton Bancorp in the first quarter valued at $441,000. LSV Asset Management grew its position in shares of Princeton Bancorp by 66.5% during the 2nd quarter. LSV Asset Management now owns 24,635 shares of the company’s stock valued at $815,000 after acquiring an additional 9,835 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Princeton Bancorp by 1.3% in the 2nd 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 in the last quarter. Empowered Funds LLC raised its holdings in Princeton Bancorp by 8.0% in the 1st quarter. Empowered Funds LLC now owns 28,404 shares of the company’s stock worth $874,000 after purchasing an additional 2,100 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Princeton Bancorp by 4.5% during the second quarter. Renaissance Technologies LLC now owns 41,523 shares of the company’s stock worth $1,374,000 after purchasing an additional 1,800 shares in the last quarter. 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.