Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Up 20.7% in February

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 29,700 shares, an increase of 20.7% from the January 31st total of 24,600 shares. Based on an average daily volume of 9,600 shares, the days-to-cover ratio is currently 3.1 days. Currently, 0.6% of the shares of the stock are short sold.

Insiders Place Their Bets

In other Princeton Bancorp news, Director Martin Tuchman bought 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average price of $32.71 per share, for a total transaction of $719,620.00. Following the completion of the transaction, the director now owns 629,141 shares of the company’s stock, valued at $20,579,202.11. This trade represents a 3.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 23.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Princeton Bancorp by 2.8% during the third quarter. Geode Capital Management LLC now owns 113,001 shares of the company’s stock valued at $4,179,000 after acquiring an additional 3,078 shares in the last quarter. Barclays PLC grew its position in Princeton Bancorp by 262.2% during the third quarter. Barclays PLC now owns 6,599 shares of the company’s stock valued at $244,000 after buying an additional 4,777 shares during the period. State Street Corp increased its stake in shares of Princeton Bancorp by 1.0% in the 3rd quarter. State Street Corp now owns 70,670 shares of the company’s stock valued at $2,613,000 after purchasing an additional 733 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Princeton Bancorp by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,073 shares of the company’s stock worth $520,000 after buying an additional 860 shares during the period. Finally, Empowered Funds LLC raised its position in Princeton Bancorp by 1.9% during the fourth quarter. Empowered Funds LLC now owns 32,772 shares of the company’s stock worth $1,128,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 43.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Princeton Bancorp Trading Up 0.1 %

Shares of BPRN traded up $0.05 during trading hours on Thursday, reaching $30.70. 1,908 shares of the company traded hands, compared to its average volume of 8,156. The firm has a market cap of $210.23 million, a price-to-earnings ratio of 18.27 and a beta of 0.54. The stock’s fifty day moving average price is $32.71 and its 200 day moving average price is $35.35. Princeton Bancorp has a 12-month low of $29.02 and a 12-month high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last released 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, research analysts forecast that Princeton Bancorp will post 3.35 earnings per share for the current year.

Princeton Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Wednesday, February 5th. Princeton Bancorp’s payout ratio is currently 71.43%.

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.