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

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

Princeton Bancorp Stock Down 0.4%

NASDAQ BPRN opened at $36.50 on Friday. The company has a 50-day simple moving average of $34.56 and a two-hundred day simple moving average of $32.85. Princeton Bancorp has a 12-month low of $27.25 and a 12-month high of $36.95. The firm has a market cap of $246.74 million, a price-to-earnings ratio of 14.20 and a beta of 0.53.

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

Princeton Bancorp Increases Dividend

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

Insider Buying and Selling at Princeton Bancorp

In other news, insider Matthew T. Clark sold 1,500 shares of Princeton Bancorp stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $32.62, for a total transaction of $48,930.00. Following the completion of the sale, the insider directly owned 81 shares of the company’s stock, valued at approximately $2,642.22. The trade was a 94.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Tuchman bought 2,000 shares of Princeton Bancorp stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average cost of $32.30 per share, for a total transaction of $64,600.00. Following the purchase, the director owned 13,604 shares of the company’s stock, valued at $439,409.20. The trade was a 17.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 12,204 shares of company stock worth $396,639 over the last three months. 23.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey bought a new stake in Princeton Bancorp during the 2nd quarter valued at $38,000. Raymond James Financial Inc. bought a new stake in Princeton Bancorp in the 2nd quarter worth $61,000. Tower Research Capital LLC TRC increased its position in shares of Princeton Bancorp by 584.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock valued at $67,000 after acquiring an additional 1,871 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Princeton Bancorp by 14.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after acquiring an additional 431 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Princeton Bancorp by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock valued at $219,000 after acquiring an additional 892 shares during the last quarter. 43.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Janney Montgomery Scott upgraded Princeton Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Princeton Bancorp in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Princeton Bancorp presently has an average rating of “Moderate Buy” and a consensus 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.