Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Update

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 24,600 shares, a drop of 11.2% from the January 15th total of 27,700 shares. Based on an average daily volume of 10,400 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.5% of the shares of the company are sold short.

Insider Buying and Selling

In related news, Director Martin Tuchman acquired 22,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was purchased at an average cost of $32.71 per share, for a total transaction of $719,620.00. Following the completion of the purchase, the director now directly owns 629,141 shares of the company’s stock, valued at $20,579,202.11. The trade was a 3.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 23.00% of the stock is owned by company insiders.

Institutional Trading of Princeton Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. Banc Funds Co. LLC boosted its stake in Princeton Bancorp by 10.3% in the 3rd quarter. Banc Funds Co. LLC now owns 340,716 shares of the company’s stock valued at $12,600,000 after purchasing an additional 31,700 shares during the period. Systematic Financial Management LP lifted its position in shares of Princeton Bancorp by 6.5% during the 4th quarter. Systematic Financial Management LP now owns 339,411 shares of the company’s stock valued at $11,686,000 after acquiring an additional 20,639 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Princeton Bancorp by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 128,532 shares of the company’s stock valued at $4,425,000 after acquiring an additional 6,663 shares during the period. Geode Capital Management LLC lifted its position in shares of Princeton Bancorp by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 116,891 shares of the company’s stock valued at $4,025,000 after acquiring an additional 3,890 shares during the period. Finally, State Street Corp lifted its position in shares of Princeton Bancorp by 1.0% during the 3rd quarter. State Street Corp now owns 70,670 shares of the company’s stock valued at $2,613,000 after acquiring an additional 733 shares during the period. 43.36% of the stock is currently owned by institutional investors.

Princeton Bancorp Stock Up 2.1 %

NASDAQ:BPRN opened at $32.43 on Tuesday. The firm has a market capitalization of $222.11 million, a price-to-earnings ratio of 19.30 and a beta of 0.59. Princeton Bancorp has a twelve month low of $29.02 and a twelve month high of $39.35. The stock’s 50 day moving average price is $33.64 and its two-hundred day moving average price is $35.66.

Princeton Bancorp (NASDAQ:BPRN) last posted 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, analysts anticipate that Princeton Bancorp will post 3.35 earnings per share for the current year.

Princeton Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.20 annualized dividend and a yield of 3.70%. Princeton Bancorp’s dividend payout ratio (DPR) is presently 71.43%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BPRN. Janney Montgomery Scott upgraded Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Tuesday, February 4th. Hovde Group initiated coverage on Princeton Bancorp in a report on Tuesday, November 19th. They set a “market perform” rating and a $40.00 price objective on the stock.

About Princeton Bancorp

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.