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

Princeton Bancorp, Inc. (NASDAQ:BPRN - Get Free Report) was the recipient of a significant 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 daily trading volume, of 9,400 shares, the days-to-cover ratio is currently 3.7 days. Currently, 0.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Princeton Bancorp Stock Performance

BPRN traded up $0.10 on Friday, reaching $31.31. The company had a trading volume of 18,877 shares, compared to its average volume of 9,118. The business has a 50 day simple moving average of $32.02 and a 200 day simple moving average of $34.86. The company has a market cap of $214.44 million, a price-to-earnings ratio of 18.64 and a beta of 0.54. Princeton Bancorp has a 52-week low of $29.02 and a 52-week high of $39.35.

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

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Princeton Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, February 5th. Princeton Bancorp's dividend payout ratio is currently 71.43%.

Insider Transactions at Princeton Bancorp

In other news, Director Martin Tuchman purchased 22,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average cost of $32.71 per share, with a total value of $719,620.00. Following the completion of the acquisition, the director now owns 629,141 shares in the company, valued at $20,579,202.11. This represents a 3.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 23.60% of the company's stock.

Institutional Investors Weigh In On Princeton Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of BPRN. Empowered Funds LLC grew its position in Princeton Bancorp by 1.9% during the fourth quarter. Empowered Funds LLC now owns 32,772 shares of the company's stock valued at $1,128,000 after acquiring an additional 600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Princeton Bancorp by 6.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,950 shares of the company's stock valued at $377,000 after acquiring an additional 633 shares during the last quarter. State Street Corp grew its position in Princeton Bancorp by 1.0% during the third 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 last quarter. Charles Schwab Investment Management Inc. grew its position in Princeton Bancorp by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,073 shares of the company's stock valued at $520,000 after acquiring an additional 860 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Princeton Bancorp by 38.6% during the fourth 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 last quarter. 43.36% of the stock is owned by hedge funds and other institutional investors.

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.