Short Interest in Princeton Bancorp, Inc. (NASDAQ:BPRN) Drops By 20.7%

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the target of a significant decline in short interest in February. As of February 27th, there was short interest totaling 34,326 shares, a decline of 20.7% from the February 12th total of 43,312 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 11,864 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily trading volume, of 11,864 shares, the days-to-cover ratio is presently 2.9 days. Approximately 0.6% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BPRN. Weiss Ratings upgraded Princeton Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Zacks Research lowered shares of Princeton Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Finally, Hovde Group upped their price objective on shares of Princeton Bancorp from $35.00 to $37.50 and gave the stock a “market perform” rating in a research report on Tuesday, February 3rd. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.50.

Institutional Investors Weigh In On Princeton Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Princeton Bancorp by 14.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock worth $103,000 after buying an additional 431 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Princeton Bancorp by 3.6% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Princeton Bancorp by 24.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,688 shares of the company’s stock worth $479,000 after buying an additional 3,044 shares in the last quarter. Geode Capital Management LLC boosted its position in Princeton Bancorp by 1.2% during the second quarter. Geode Capital Management LLC now owns 127,347 shares of the company’s stock worth $3,890,000 after acquiring an additional 1,542 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in Princeton Bancorp during the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 43.36% of the company’s stock.

Princeton Bancorp Stock Performance

BPRN stock opened at $33.51 on Tuesday. Princeton Bancorp has a 12-month low of $27.25 and a 12-month high of $37.99. The business’s 50-day moving average is $35.37 and its 200 day moving average is $33.79. The stock has a market cap of $226.53 million, a price-to-earnings ratio of 12.32 and a beta of 0.52.

Princeton Bancorp (NASDAQ:BPRN) last announced its earnings results on Thursday, January 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates 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. As a group, equities analysts forecast that Princeton Bancorp will post 3.35 EPS for the current fiscal year.

Princeton Bancorp Dividend Announcement

The company 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. This represents a $1.40 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, February 4th. Princeton Bancorp’s dividend payout ratio is currently 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.