Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Grows By 16.2%

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 34,500 shares, an increase of 16.2% from the February 13th total of 29,700 shares. Based on an average trading volume of 9,400 shares, the days-to-cover ratio is presently 3.7 days. Approximately 0.7% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, Director Martin Tuchman purchased 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $32.71 per share, with a total value of $719,620.00. Following the acquisition, the director now owns 629,141 shares in the company, valued at $20,579,202.11. The trade was a 3.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.60% of the stock is owned by insiders.

Institutional Trading of Princeton Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Princeton Bancorp by 565.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,071 shares of the company’s stock worth $37,000 after purchasing an additional 910 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Princeton Bancorp by 38.6% in the 4th quarter. Wells Fargo & Company MN now owns 3,222 shares of the company’s stock valued at $111,000 after acquiring an additional 898 shares during the period. Bank of America Corp DE increased its holdings in shares of Princeton Bancorp by 49.2% in the 4th quarter. Bank of America Corp DE now owns 5,509 shares of the company’s stock valued at $190,000 after acquiring an additional 1,816 shares during the period. Princeton Capital Management LLC acquired a new position in shares of Princeton Bancorp in the 3rd quarter valued at $215,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Princeton Bancorp in the 3rd quarter valued at $222,000. Institutional investors and hedge funds own 43.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a report on Tuesday, February 4th.

Princeton Bancorp Trading Up 2.1 %

Shares of BPRN stock opened at $31.21 on Friday. The company’s 50-day moving average price is $32.03 and its 200-day moving average price is $34.91. The stock has a market cap of $213.76 million, a price-to-earnings ratio of 18.58 and a beta of 0.54. Princeton Bancorp has a twelve month low of $29.02 and a twelve month high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.11). As a group, equities research analysts predict that Princeton Bancorp will post 3.35 EPS for the current year.

Princeton Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.20 dividend on an annualized basis and a yield of 3.84%. Princeton Bancorp’s payout ratio is currently 71.43%.

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.