Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Drops By 11.2%

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

Insider Activity

In related news, Director Martin Tuchman bought 22,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were purchased at an average cost of $32.71 per share, for a total transaction of $719,620.00. Following the completion of the purchase, the director now directly owns 629,141 shares in the company, valued at $20,579,202.11. The trade was a 3.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 23.00% of the company’s stock.

Hedge Funds Weigh In On Princeton Bancorp

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in Princeton Bancorp by 565.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,071 shares of the company’s stock valued at $37,000 after buying an additional 910 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in Princeton Bancorp in the third quarter valued at approximately $47,000. Wells Fargo & Company MN boosted its position in Princeton Bancorp by 38.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,222 shares of the company’s stock valued at $111,000 after buying an additional 898 shares during the last quarter. Bank of America Corp DE boosted its position in Princeton Bancorp by 49.2% in the fourth quarter. Bank of America Corp DE now owns 5,509 shares of the company’s stock valued at $190,000 after buying an additional 1,816 shares during the last quarter. Finally, Princeton Capital Management LLC purchased a new stake in Princeton Bancorp in the third quarter valued at approximately $215,000. Institutional investors and hedge funds own 43.36% of the company’s stock.

Wall Street Analysts Forecast Growth

BPRN has been the topic of a number of 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 report on Tuesday, February 4th. Hovde Group initiated coverage on shares of Princeton Bancorp in a report on Tuesday, November 19th. They issued a “market perform” rating and a $40.00 price objective on the stock.

Princeton Bancorp Stock Up 2.1 %

NASDAQ BPRN opened at $32.43 on Tuesday. The company has a fifty day moving average of $33.64 and a two-hundred day moving average of $35.66. The firm has a market capitalization of $222.11 million, a price-to-earnings ratio of 19.30 and a beta of 0.59. Princeton Bancorp has a 52 week low of $29.02 and a 52 week high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last issued its earnings results on Tuesday, January 28th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.11). Equities research analysts anticipate that Princeton Bancorp will post 3.35 EPS for the current year.

Princeton Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.70%. Princeton Bancorp’s dividend payout ratio (DPR) is currently 71.43%.

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.