Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Up 22.1% in March

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 41,918 shares, a growth of 22.1% from the February 26th total of 34,326 shares. Based on an average daily trading volume, of 11,603 shares, the days-to-cover ratio is presently 3.6 days. Currently, 0.8% of the company’s stock are sold short.

Princeton Bancorp Stock Performance

Shares of NASDAQ BPRN opened at $34.16 on Tuesday. Princeton Bancorp has a 1 year low of $27.25 and a 1 year high of $37.99. The firm has a market cap of $232.29 million, a P/E ratio of 12.56 and a beta of 0.52. The stock has a fifty day moving average price of $35.01 and a two-hundred day moving average price of $33.83.

Princeton Bancorp (NASDAQ:BPRN) last released its earnings results on Thursday, January 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, research analysts predict that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.

Princeton Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 4th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.40 dividend on an annualized basis and a yield of 4.1%. Princeton Bancorp’s dividend payout ratio is 51.47%.

Analyst Ratings Changes

A number of research firms recently commented on BPRN. Weiss Ratings upgraded Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Hovde Group lifted their target price on Princeton Bancorp from $35.00 to $37.50 and gave the company a “market perform” rating in a research note on Tuesday, February 3rd. Finally, Zacks Research cut shares of Princeton Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Princeton Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Princeton Bancorp during the second quarter valued at about $38,000. Raymond James Financial Inc. bought a new position in Princeton Bancorp during the second quarter valued at about $61,000. Tower Research Capital LLC TRC increased 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 valued at $67,000 after acquiring an additional 1,871 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Princeton Bancorp by 14.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after acquiring an additional 431 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Princeton Bancorp by 50.1% in the 4th quarter. Wells Fargo & Company MN now owns 5,855 shares of the company’s stock worth $203,000 after acquiring an additional 1,953 shares during the period. Institutional investors own 43.36% of the company’s stock.

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.