Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Decreases By 16.1%

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 31,300 shares, a drop of 16.1% from the March 31st total of 37,300 shares. Based on an average daily volume of 9,000 shares, the short-interest ratio is presently 3.5 days. Approximately 0.6% of the shares of the stock are short sold.

Insider Buying and Selling at Princeton Bancorp

In other Princeton Bancorp news, Director Martin Tuchman purchased 22,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average price of $32.71 per share, for a total transaction of $719,620.00. Following the transaction, the director now owns 629,141 shares in the company, valued at $20,579,202.11. The trade was a 3.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders bought a total of 24,000 shares of company stock valued at $780,050 in the last three months. Company insiders own 23.00% of the company’s stock.

Institutional Investors Weigh In On Princeton Bancorp

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in Princeton Bancorp by 565.2% in the fourth 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 last quarter. Wells Fargo & Company MN boosted its holdings in Princeton Bancorp by 38.6% during the 4th 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 period. Bank of America Corp DE grew its position in Princeton Bancorp by 49.2% during the 4th quarter. Bank of America Corp DE now owns 5,509 shares of the company’s stock worth $190,000 after acquiring an additional 1,816 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Princeton Bancorp in the 4th quarter worth approximately $216,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Princeton Bancorp in the third quarter valued at approximately $222,000. Hedge funds and other institutional investors own 43.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Tuesday, February 4th.

Princeton Bancorp Stock Performance

Shares of NASDAQ:BPRN opened at $31.17 on Monday. The firm has a fifty day moving average of $29.98 and a 200 day moving average of $33.20. Princeton Bancorp has a 52-week low of $27.25 and a 52-week high of $39.35. The firm has a market capitalization of $215.54 million, a PE ratio of 18.55 and a beta of 0.63.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $20.95 million during the quarter, compared to analysts’ expectations of $20.73 million. On average, sell-side analysts forecast that Princeton Bancorp will post 3.35 EPS for the current fiscal year.

Princeton Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Tuesday, May 6th. Princeton Bancorp’s dividend payout ratio (DPR) is presently 67.80%.

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.