Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Expands By 22.1%
by Kim Johansen · The Markets DailyPrinceton Bancorp, Inc. (NASDAQ:BPRN – Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 41,918 shares, an increase of 22.1% from the February 26th total of 34,326 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 11,603 shares, the short-interest ratio is currently 3.6 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Princeton Bancorp during the 2nd quarter worth $38,000. Raymond James Financial Inc. purchased a new position in Princeton Bancorp in the second quarter valued at about $61,000. Tower Research Capital LLC TRC raised its holdings in Princeton Bancorp by 584.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock worth $67,000 after purchasing an additional 1,871 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 worth $103,000 after purchasing an additional 431 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Princeton Bancorp by 50.1% during the fourth quarter. Wells Fargo & Company MN now owns 5,855 shares of the company’s stock valued at $203,000 after buying an additional 1,953 shares during the last quarter. 43.36% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BPRN has been the subject of a number of research analyst reports. Hovde Group lifted their price objective on shares of Princeton Bancorp from $35.00 to $37.50 and gave the company a “market perform” rating in a report on Tuesday, February 3rd. Weiss Ratings raised shares of Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Finally, Zacks Research downgraded shares of Princeton Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.50.
Read Our Latest Stock Analysis on Princeton Bancorp
Princeton Bancorp Price Performance
NASDAQ:BPRN opened at $33.23 on Monday. Princeton Bancorp has a 1-year low of $27.25 and a 1-year high of $37.99. The company has a 50-day moving average of $35.05 and a 200 day moving average of $33.82. The firm has a market cap of $225.60 million, a PE ratio of 12.22 and a beta of 0.52.
Princeton Bancorp (NASDAQ:BPRN – Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.04). The firm had revenue of $20.75 million for the quarter, compared to analyst estimates of $21.03 million. Sell-side analysts anticipate that Princeton Bancorp will post 3.35 EPS for the current fiscal year.
Princeton Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 4th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.40 dividend on an annualized basis and a yield of 4.2%. Princeton Bancorp’s payout ratio is 51.47%.
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.