Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Increases By 20.7%

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 29,700 shares, an increase of 20.7% from the January 31st total of 24,600 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily volume of 9,600 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analyst Weigh In

Several research analysts have commented on BPRN shares. Hovde Group started coverage on shares of Princeton Bancorp in a report on Tuesday, November 19th. They issued a "market perform" rating and a $40.00 price target for the company. Janney Montgomery Scott raised shares of Princeton Bancorp from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a report on Tuesday, February 4th.

Insider Buying and Selling at Princeton Bancorp

In other news, Director Martin Tuchman purchased 22,000 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was purchased at an average cost of $32.71 per share, with a total value of $719,620.00. Following the acquisition, the director now directly owns 629,141 shares in the company, valued at approximately $20,579,202.11. This trade represents a 3.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.00% of the company's stock.

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Hedge Funds Weigh In On Princeton Bancorp

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

Princeton Bancorp Stock Up 2.5 %

Shares of NASDAQ BPRN traded up $0.79 during mid-day trading on Friday, reaching $32.35. 3,805 shares of the company were exchanged, compared to its average volume of 8,139. Princeton Bancorp has a 52 week low of $29.02 and a 52 week high of $39.35. The stock has a market capitalization of $221.57 million, a PE ratio of 19.26 and a beta of 0.54. The company's 50 day moving average price is $32.60 and its 200 day moving average price is $35.29.

Princeton Bancorp (NASDAQ:BPRN - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.11). On average, sell-side analysts predict that Princeton Bancorp will post 3.35 earnings per share for the current year.

Princeton Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Wednesday, February 5th. Princeton Bancorp's payout ratio is presently 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.