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

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a large 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 short-interest ratio is currently 3.6 days. Currently, 0.9% of the shares of the stock are short sold. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,589 shares, the short-interest ratio is currently 3.6 days.

Analyst Upgrades and Downgrades

BPRN has been the topic of a number of recent 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. Zacks Research cut shares of Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Janney Montgomery Scott raised Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $35.00.

Princeton Bancorp Price Performance

Shares of NASDAQ BPRN traded up $1.27 during midday trading on Monday, reaching $37.50. The company’s stock had a trading volume of 48,040 shares, compared to its average volume of 16,622. The stock has a market capitalization of $253.61 million, a P/E ratio of 13.79 and a beta of 0.53. The firm has a 50 day moving average price of $35.31 and a 200-day moving average price of $33.18. Princeton Bancorp has a 12-month low of $27.25 and a 12-month high of $37.99.

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

Princeton Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 4th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, February 4th. Princeton Bancorp’s payout ratio is currently 51.47%.

Insider Buying and Selling at Princeton Bancorp

In other news, insider Matthew T. Clark sold 1,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $32.62, for a total value of $48,930.00. Following the completion of the transaction, the insider directly owned 81 shares in the company, valued at approximately $2,642.22. This represents a 94.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Tuchman bought 2,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was purchased at an average price of $32.30 per share, with a total value of $64,600.00. Following the completion of the transaction, the director directly owned 13,604 shares of the company’s stock, valued at approximately $439,409.20. The trade was a 17.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 10,604 shares of company stock valued at $346,239. 23.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Princeton Bancorp

Several hedge funds have recently made changes to their positions in BPRN. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Princeton Bancorp by 24.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,688 shares of the company’s stock worth $479,000 after buying an additional 3,044 shares during the period. Roundview Capital LLC grew its holdings in Princeton Bancorp by 14.9% in the 2nd quarter. Roundview Capital LLC now owns 61,792 shares of the company’s stock worth $1,887,000 after acquiring an additional 8,000 shares during the last quarter. SilverOak Wealth Management LLC purchased a new position in shares of Princeton Bancorp in the second quarter valued at about $232,000. Princeton Capital Management LLC bought a new position in shares of Princeton Bancorp during the third quarter valued at about $249,000. Finally, GSA Capital Partners LLP purchased a new position in Princeton Bancorp during the 3rd quarter valued at about $232,000. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

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.