Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Up 30.9% in January
by Jessica Moore · The Cerbat GemPrinceton Bancorp, Inc. (NASDAQ:BPRN – Get Free Report) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 49,146 shares, an increase of 30.9% from the December 31st total of 37,540 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average trading volume of 13,589 shares, the short-interest ratio is presently 3.6 days. Based on an average trading volume of 13,589 shares, the short-interest ratio is presently 3.6 days. Approximately 0.9% of the company’s shares are sold short.
Princeton Bancorp Trading Up 3.5%
NASDAQ:BPRN traded up $1.27 during trading hours on Monday, reaching $37.50. The company had a trading volume of 48,040 shares, compared to its average volume of 16,622. The firm has a market cap of $253.61 million, a price-to-earnings ratio of 13.79 and a beta of 0.53. Princeton Bancorp has a 52 week low of $27.25 and a 52 week high of $37.99. The firm’s 50 day moving average price is $35.31 and its 200-day moving average price is $33.18.
Princeton Bancorp (NASDAQ:BPRN – Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04). The business had revenue of $20.75 million during the quarter, compared to analyst estimates of $21.03 million. On average, analysts forecast that Princeton Bancorp will post 3.35 earnings per share for the current fiscal year.
Princeton Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Wednesday, February 4th will be given a $0.35 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $1.40 annualized dividend and a yield of 3.7%. Princeton Bancorp’s dividend payout ratio (DPR) is presently 51.47%.
Insider Buying and Selling at Princeton Bancorp
In other news, Director Martin Tuchman purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average cost of $33.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director directly owned 7,548 shares of the company’s stock, valued at $249,084. This trade represents a 196.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew T. Clark sold 1,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $32.62, for a total value of $48,930.00. Following the completion of the transaction, the insider owned 81 shares of the company’s stock, valued at approximately $2,642.22. This trade represents a 94.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 10,604 shares of company stock valued at $346,239 over the last 90 days. Company insiders own 23.00% of the company’s stock.
Hedge Funds Weigh In On Princeton Bancorp
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio grew its holdings in Princeton Bancorp by 1,500.0% during the 4th quarter. Strs Ohio now owns 9,600 shares of the company’s stock valued at $333,000 after buying an additional 9,000 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Princeton Bancorp in the 4th quarter valued at $282,000. JPMorgan Chase & Co. lifted its stake in Princeton Bancorp by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,863 shares of the company’s stock worth $219,000 after purchasing an additional 892 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Princeton Bancorp during the 3rd quarter valued at about $319,000. Finally, Alliancebernstein L.P. grew its position in shares of Princeton Bancorp by 1.0% during the third quarter. Alliancebernstein L.P. now owns 561,737 shares of the company’s stock valued at $17,886,000 after purchasing an additional 5,810 shares in the last quarter. 43.36% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
BPRN has been the topic of a number of analyst reports. Zacks Research cut Princeton Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Janney Montgomery Scott raised Princeton Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings upgraded shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $35.00.
View Our Latest Analysis on Princeton Bancorp
About Princeton Bancorp
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.