Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Update

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a significant drop in short interest in April. As of April 15th, there was short interest totaling 34,301 shares, a drop of 21.1% from the March 31st total of 43,486 shares. Based on an average daily volume of 9,766 shares, the days-to-cover ratio is presently 3.5 days. Currently, 0.7% of the company’s stock are sold short.

Institutional Investors Weigh In On Princeton Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Princeton Bancorp by 14.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock worth $103,000 after purchasing an additional 431 shares during the period. Geode Capital Management LLC lifted its stake in shares of Princeton Bancorp by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 127,621 shares of the company’s stock valued at $4,428,000 after purchasing an additional 659 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Princeton Bancorp by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock valued at $219,000 after purchasing an additional 892 shares during the period. Empowered Funds LLC boosted its holdings in Princeton Bancorp by 3.6% during the first quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock worth $1,037,000 after buying an additional 1,169 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Princeton Bancorp by 584.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock worth $67,000 after buying an additional 1,871 shares in the last quarter. Institutional investors and hedge funds own 43.36% of the company’s stock.

Princeton Bancorp Trading Up 1.0%

Shares of BPRN stock traded up $0.34 during trading hours on Friday, reaching $36.11. 4,252 shares of the company’s stock were exchanged, compared to its average volume of 14,087. Princeton Bancorp has a 1 year low of $29.21 and a 1 year high of $37.99. The stock has a market cap of $245.19 million, a PE ratio of 12.63 and a beta of 0.49. The stock’s fifty day moving average price is $34.53 and its two-hundred day moving average price is $34.38.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Princeton Bancorp had a return on equity of 7.24% and a net margin of 14.20%.The business had revenue of $21.31 million for the quarter, compared to analyst estimates of $21.06 million. On average, equities analysts expect that Princeton Bancorp will post 3.6 EPS for the current fiscal year.

Princeton Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 5th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, May 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.9%. Princeton Bancorp’s payout ratio is presently 48.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BPRN shares. Hovde Group raised their price objective on Princeton Bancorp from $35.00 to $37.50 and gave the company a “market perform” rating in a research report on Tuesday, February 3rd. Weiss Ratings raised Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, April 21st. Finally, Zacks Research raised Princeton Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Princeton Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

About Princeton Bancorp

Princeton Bancorp, Inc is the bank holding company for Princeton Bank, a community-focused financial institution based in Princeton, New Jersey. Through its wholly owned subsidiary, the company offers a full suite of personal and business banking services designed to meet the needs of individuals, families and local enterprises in central and southern New Jersey.

The company’s core offerings include checking and savings accounts, consumer and commercial lending, mortgage origination and refinancing, as well as treasury management solutions for small-to-medium-sized businesses.