Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Up 30.9% in January

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 49,146 shares, a growth of 30.9% from the December 31st total of 37,540 shares. Based on an average daily trading volume, of 13,589 shares, the days-to-cover ratio is currently 3.6 days. Currently, 0.9% of the company’s shares are sold short. Currently, 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 13,589 shares, the days-to-cover ratio is currently 3.6 days.

Analysts Set New Price Targets

BPRN has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Janney Montgomery Scott upgraded shares of Princeton Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Zacks Research lowered Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Hovde Group boosted their price objective on Princeton Bancorp from $35.00 to $37.50 and gave the stock a “market perform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Insider Transactions at Princeton Bancorp

In other Princeton Bancorp news, Director Martin Tuchman acquired 2,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was purchased at an average cost of $32.30 per share, for a total transaction of $64,600.00. Following the transaction, the director owned 13,604 shares of the company’s stock, valued at $439,409.20. The trade was a 17.24% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew T. Clark sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $32.62, for a total transaction of $48,930.00. Following the transaction, the insider directly owned 81 shares in the company, valued at $2,642.22. The trade was a 94.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 8,601 shares of company stock valued at $281,641 over the last ninety days. Insiders own 21.90% of the company’s stock.

Hedge Funds Weigh In On Princeton Bancorp

A number of hedge funds have recently made changes to their positions in BPRN. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Princeton Bancorp during the 2nd quarter valued at about $38,000. Raymond James Financial Inc. bought a new position in Princeton Bancorp during the second quarter worth about $61,000. Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 1,871 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 purchasing an additional 431 shares in the last quarter. Finally, JPMorgan Chase & Co. grew 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. Institutional investors and hedge funds own 43.36% of the company’s stock.

Princeton Bancorp Stock Performance

Shares of BPRN opened at $37.84 on Wednesday. The company has a 50-day simple moving average of $35.48 and a 200-day simple moving average of $33.26. Princeton Bancorp has a 52 week low of $27.25 and a 52 week high of $37.99. The firm has a market capitalization of $255.80 million, a P/E ratio of 13.91 and a beta of 0.53.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.04). The business had revenue of $20.75 million during the quarter, compared to analysts’ expectations of $21.03 million. As a group, equities analysts forecast that Princeton Bancorp will post 3.35 earnings per share for the current year.

Princeton Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 4th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, February 4th. Princeton Bancorp’s dividend payout ratio (DPR) 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.