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

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) saw a large decrease in short interest in April. As of April 15th, there was short interest totalling 31,300 shares, a decrease of 16.1% from the March 31st total of 37,300 shares. Approximately 0.6% of the company's shares are short sold. Based on an average daily volume of 9,000 shares, the short-interest ratio is currently 3.5 days.

Princeton Bancorp Stock Up 0.7 %

Shares of NASDAQ BPRN traded up $0.23 during trading on Thursday, hitting $31.33. 5,268 shares of the company traded hands, compared to its average volume of 9,174. The firm has a market capitalization of $216.65 million, a P/E ratio of 18.65 and a beta of 0.63. The company has a 50-day moving average price of $29.91 and a 200-day moving average price of $33.13. Princeton Bancorp has a 1 year low of $27.25 and a 1 year high of $39.35.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.01. The business had revenue of $20.95 million during the quarter, compared to analysts' expectations of $20.73 million. Research analysts predict that Princeton Bancorp will post 3.35 EPS for the current fiscal year.

Princeton Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Tuesday, May 6th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Tuesday, May 6th. Princeton Bancorp's payout ratio is currently 67.80%.

Insider Buying and Selling at Princeton Bancorp

In other Princeton Bancorp news, Director Martin Tuchman purchased 22,000 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was bought at an average cost of $32.71 per share, for a total transaction of $719,620.00. Following the acquisition, the director now owns 629,141 shares of the company's stock, valued at approximately $20,579,202.11. The trade was a 3.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have bought 24,431 shares of company stock worth $793,346. Corporate insiders own 23.00% of the company's stock.

Institutional Trading of Princeton Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Princeton Bancorp by 1.9% during the 4th quarter. Empowered Funds LLC now owns 32,772 shares of the company's stock valued at $1,128,000 after buying an additional 600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Princeton Bancorp by 6.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,950 shares of the company's stock worth $377,000 after purchasing an additional 633 shares during the last quarter. Wells Fargo & Company MN boosted its position in Princeton Bancorp by 38.6% during the 4th quarter. Wells Fargo & Company MN now owns 3,222 shares of the company's stock valued at $111,000 after purchasing an additional 898 shares during the period. Tower Research Capital LLC TRC grew its stake in Princeton Bancorp by 565.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,071 shares of the company's stock worth $37,000 after buying an additional 910 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Princeton Bancorp by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 21,460 shares of the company's stock worth $656,000 after buying an additional 1,077 shares during the period. Institutional investors and hedge funds own 43.36% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott raised Princeton Bancorp from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Tuesday, February 4th.

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.