Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Down 30.3% in December

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 37,540 shares, a drop of 30.3% from the December 15th total of 53,839 shares. Based on an average daily volume of 10,220 shares, the short-interest ratio is presently 3.7 days. Approximately 0.7% of the shares of the stock are sold short. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 10,220 shares, the short-interest ratio is presently 3.7 days.

Princeton Bancorp Stock Performance

Shares of BPRN traded down $0.16 on Friday, reaching $36.50. The stock had a trading volume of 7,014 shares, compared to its average volume of 11,259. The company has a 50-day simple moving average of $34.56 and a 200-day simple moving average of $32.86. The firm has a market capitalization of $246.85 million, a price-to-earnings ratio of 14.20 and a beta of 0.53. Princeton Bancorp has a 12-month low of $27.25 and a 12-month high of $36.95.

Princeton Bancorp (NASDAQ:BPRN) last announced its earnings results on Wednesday, October 29th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $21.53 million for the quarter, compared to the consensus estimate of $20.33 million. On average, analysts expect that Princeton Bancorp will post 3.35 EPS for the current fiscal year.

Princeton Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th were given a $0.35 dividend. This is a positive change from Princeton Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.8%. Princeton Bancorp’s payout ratio is presently 54.47%.

Insider Transactions at Princeton Bancorp

In other news, Director Martin Tuchman bought 5,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $33.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director owned 7,548 shares of the company’s stock, valued at $249,084. This trade represents a 196.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan Barrett purchased 1,600 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $31.50 per share, for a total transaction of $50,400.00. Following the completion of the purchase, the director directly owned 4,542 shares of the company’s stock, valued at approximately $143,073. This represents a 54.38% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 12,204 shares of company stock valued at $396,639. Corporate insiders own 23.00% of the company’s stock.

Institutional Trading of Princeton Bancorp

A number of institutional investors have recently made changes to their positions in BPRN. JPMorgan Chase & Co. lifted 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 worth $219,000 after purchasing an additional 892 shares during the period. Focus Partners Wealth bought a new position in Princeton Bancorp in the 3rd quarter worth approximately $319,000. Alliancebernstein L.P. raised its position in shares of Princeton Bancorp by 1.0% during the third quarter. Alliancebernstein L.P. now owns 561,737 shares of the company’s stock valued at $17,886,000 after buying an additional 5,810 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Princeton Bancorp by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 144,827 shares of the company’s stock worth $4,611,000 after buying an additional 2,505 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Princeton Bancorp by 14.3% during the third quarter. Royce & Associates LP now owns 80,366 shares of the company’s stock worth $2,559,000 after acquiring an additional 10,032 shares during the last quarter. Hedge funds and other institutional investors own 43.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Princeton Bancorp in a research report on Wednesday, October 8th. Janney Montgomery Scott raised shares of Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research downgraded shares of Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.00.

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.