Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Down 16.1% in April

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

Insider Buying and Selling

In other news, Director Martin Tuchman acquired 1,000 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were bought at an average cost of $30.00 per share, for a total transaction of $30,000.00. Following the acquisition, the director now owns 102,109 shares in the company, valued at approximately $3,063,270. This represents a 0.99 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders purchased 24,000 shares of company stock valued at $780,050. 23.00% of the stock is owned by corporate insiders.

Institutional Trading of Princeton Bancorp

Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its holdings in shares of Princeton Bancorp by 1.9% during the 4th quarter. Empowered Funds LLC now owns 32,772 shares of the company’s stock worth $1,128,000 after acquiring an additional 600 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased 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 worth $377,000 after purchasing an additional 633 shares during the last quarter. Wells Fargo & Company MN raised its stake in Princeton Bancorp by 38.6% during the fourth 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. Tower Research Capital LLC TRC boosted its holdings 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 valued at $37,000 after purchasing an additional 910 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Princeton Bancorp by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 21,460 shares of the company’s stock valued at $656,000 after buying an additional 1,077 shares during the period. 43.36% of the stock is currently owned by hedge funds and other institutional investors.

Princeton Bancorp Stock Up 3.7 %

Shares of NASDAQ BPRN opened at $31.17 on Friday. The firm has a 50-day simple moving average of $29.98 and a 200-day simple moving average of $33.22. The stock has a market capitalization of $215.54 million, a price-to-earnings ratio of 18.55 and a beta of 0.63. Princeton Bancorp has a 52 week low of $27.25 and a 52 week high of $39.35.

Princeton Bancorp (NASDAQ:BPRN) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $20.95 million during the quarter, compared to analyst estimates of $20.73 million. As a group, equities research analysts expect that Princeton Bancorp will post 3.35 EPS for the current year.

Princeton Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Tuesday, May 6th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, May 6th. This represents a $1.20 dividend on an annualized basis and a yield of 3.85%. Princeton Bancorp’s payout ratio is 67.80%.

Wall Street Analyst Weigh In

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

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.