Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Decreases By 16.1%

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Princeton Bancorp

In related news, Director Martin Tuchman bought 1,000 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average cost of $30.43 per share, for a total transaction of $30,430.00. Following the purchase, the director now directly owns 103,109 shares in the company, valued at $3,137,606.87. This trade represents a 0.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 24,000 shares of company stock valued at $780,050 in the last 90 days. 23.00% of the stock is currently owned by insiders.

Institutional Trading of Princeton Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of BPRN. Bank of New York Mellon Corp raised its position in Princeton Bancorp by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 21,460 shares of the company's stock valued at $656,000 after buying an additional 1,077 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its position in Princeton Bancorp by 15.9% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 7,902 shares of the company's stock worth $241,000 after buying an additional 1,086 shares in the last quarter. Lynch Asset Management Inc. acquired a new stake in shares of Princeton Bancorp in the first quarter valued at about $518,000. Princeton Global Asset Management LLC bought a new stake in shares of Princeton Bancorp in the 1st quarter valued at about $245,000. Finally, Squarepoint Ops LLC bought a new position in shares of Princeton Bancorp during the 4th quarter worth approximately $216,000. Institutional investors and hedge funds own 43.36% of the company's stock.

Princeton Bancorp Trading Up 3.7 %

BPRN opened at $31.17 on Friday. Princeton Bancorp has a 1-year low of $27.25 and a 1-year high of $39.35. The firm has a 50-day moving average price of $29.98 and a two-hundred day moving average price of $33.25. The stock has a market capitalization of $215.54 million, a PE ratio of 18.55 and a beta of 0.48.

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

Princeton Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Tuesday, May 6th. Princeton Bancorp's dividend payout ratio (DPR) is presently 67.80%.

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.

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