Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Declines By 30.3%

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the target of a large 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. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 10,220 shares, the short-interest ratio is presently 3.7 days. Based on an average daily volume of 10,220 shares, the short-interest ratio is presently 3.7 days. Approximately 0.7% of the company’s stock are short sold.

Insider Activity at Princeton Bancorp

In other Princeton Bancorp news, insider Matthew T. Clark sold 1,500 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,642.22. This represents a 94.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan Barrett acquired 1,600 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $31.50 per share, with a total value of $50,400.00. Following the transaction, the director directly owned 4,542 shares in the company, valued at $143,073. The trade was a 54.38% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 12,204 shares of company stock valued at $396,639. Corporate 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 stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Princeton Bancorp by 14.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after purchasing an additional 431 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Princeton Bancorp by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock valued at $219,000 after purchasing an additional 892 shares in the last quarter. Empowered Funds LLC raised its holdings in Princeton Bancorp by 3.6% during the first quarter. Empowered Funds LLC now owns 33,941 shares of the company’s stock worth $1,037,000 after buying an additional 1,169 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Princeton Bancorp in the second quarter valued at $38,000. Finally, Geode Capital Management LLC grew its holdings in shares of Princeton Bancorp by 1.2% during the second quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock valued at $3,890,000 after buying an additional 1,542 shares during the last quarter. Institutional investors own 43.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Princeton Bancorp in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Janney Montgomery Scott upgraded shares of Princeton Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Princeton Bancorp Stock Down 0.4%

Princeton Bancorp stock opened at $36.50 on Monday. The stock has a market capitalization of $246.74 million, a PE ratio of 14.20 and a beta of 0.53. Princeton Bancorp has a twelve month low of $27.25 and a twelve month high of $36.95. The company has a 50 day moving average of $34.56 and a 200-day moving average of $32.87.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The company had revenue of $21.53 million for the quarter, compared to analyst estimates of $20.33 million. Equities analysts anticipate that Princeton Bancorp will post 3.35 EPS for the current fiscal year.

Princeton Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors 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 dividend on an annualized basis and a dividend yield of 3.8%. Princeton Bancorp’s dividend payout ratio (DPR) is 54.47%.

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.