Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Increases By 22.1%

Key Points

• Short interest in Princeton Bancorp (NASDAQ:BPRN) increased by 22.1% in March to 41,918 shares, about 0.8% of shares outstanding and a short-interest ratio of 3.6 days.
• Analyst views are mixed but the consensus is a “Moderate Buy” with an average price target of $37.50; recent actions include Hovde raising its target, Weiss upgrading to buy, and Zacks cutting to strong sell.
• Princeton Bancorp pays a quarterly dividend of $0.35 (annualized yield 4.2%, payout ratio 51.47%) and recently missed quarterly EPS ($0.90 vs. $0.94 est.), with shares trading near $33 and a 1-year range of $27.25–$37.99.

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 41,918 shares, an increase of 22.1% from the February 26th total of 34,326 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily volume of 11,603 shares, the short-interest ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BPRN shares. Hovde Group boosted their target price on Princeton Bancorp from $35.00 to $37.50 and gave the stock a "market perform" rating in a research report on Tuesday, February 3rd. Zacks Research cut Princeton Bancorp from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings upgraded Princeton Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Princeton Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $37.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Princeton Bancorp by 14.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company's stock valued at $103,000 after buying an additional 431 shares during the last quarter. Empowered Funds LLC boosted its holdings in Princeton Bancorp by 3.6% during the 1st quarter. Empowered Funds LLC now owns 33,941 shares of the company's stock valued at $1,037,000 after acquiring an additional 1,169 shares during the period. Geode Capital Management LLC grew its position in Princeton Bancorp by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 127,347 shares of the company's stock valued at $3,890,000 after acquiring an additional 1,542 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in Princeton Bancorp in the 2nd quarter valued at $38,000. Finally, Systematic Financial Management LP increased its stake in Princeton Bancorp by 1.0% in the second quarter. Systematic Financial Management LP now owns 345,247 shares of the company's stock worth $10,544,000 after purchasing an additional 3,269 shares during the period. Hedge funds and other institutional investors own 43.36% of the company's stock.

Princeton Bancorp Price Performance

Shares of NASDAQ BPRN opened at $33.23 on Monday. Princeton Bancorp has a 1-year low of $27.25 and a 1-year high of $37.99. The business's 50 day moving average is $35.05 and its two-hundred day moving average is $33.82. The stock has a market capitalization of $225.60 million, a P/E ratio of 12.22 and a beta of 0.52.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04). The firm had revenue of $20.75 million during the quarter, compared to analyst estimates of $21.03 million. As a group, equities research analysts anticipate that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.

Princeton Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 4th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, February 4th. Princeton Bancorp's dividend payout ratio is 51.47%.

Princeton Bancorp Company Profile

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.

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