Princeton Bancorp, Inc. (NASDAQ:BPRN) Sees Large Decline in Short Interest

Princeton Bancorp, Inc. (NASDAQ:BPRN) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 34,500 shares, a decrease of 17.1% from the August 15th total of 41,600 shares. Based on an average trading volume of 11,600 shares, the days-to-cover ratio is currently 3.0 days. Currently, 0.7% of the shares of the company are sold short.

Princeton Bancorp Stock Performance

Shares of BPRN traded up $0.29 during mid-day trading on Tuesday, reaching $37.50. 4,145 shares of the company’s stock traded hands, compared to its average volume of 11,010. The business’s 50-day moving average price is $36.35 and its 200-day moving average price is $32.57. The stock has a market capitalization of $236.96 million, a P/E ratio of 9.90 and a beta of 0.59. Princeton Bancorp has a 12 month low of $28.10 and a 12 month high of $39.21.

Princeton Bancorp (NASDAQ:BPRN) last announced its earnings results on Thursday, July 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. The business had revenue of $31.50 million for the quarter, compared to the consensus estimate of $17.77 million. Equities research analysts anticipate that Princeton Bancorp will post 2.97 EPS for the current year.

Princeton Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were paid a $0.30 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 3.20%. Princeton Bancorp’s dividend payout ratio is currently 31.91%.

Insider Buying and Selling

In other Princeton Bancorp news, insider Stephanie Adkins sold 2,000 shares of Princeton Bancorp stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $35.10, for a total value of $70,200.00. Following the completion of the transaction, the insider now directly owns 7,377 shares in the company, valued at $258,932.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Princeton Bancorp news, insider Stephanie Adkins sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $35.10, for a total value of $70,200.00. Following the sale, the insider now directly owns 7,377 shares in the company, valued at $258,932.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Ridolfi sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. Following the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $475,000. The disclosure for this sale can be found here. 23.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Princeton Bancorp by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 24,894 shares of the company’s stock worth $824,000 after purchasing an additional 321 shares in the last quarter. Acadian Asset Management LLC raised its position in Princeton Bancorp by 1.5% during the second quarter. Acadian Asset Management LLC now owns 79,958 shares of the company’s stock valued at $2,644,000 after buying an additional 1,202 shares during the period. Renaissance Technologies LLC raised its position in Princeton Bancorp by 4.5% during the second quarter. Renaissance Technologies LLC now owns 41,523 shares of the company’s stock valued at $1,374,000 after buying an additional 1,800 shares during the period. Vanguard Group Inc. lifted its stake in Princeton Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 301,721 shares of the company’s stock worth $9,287,000 after acquiring an additional 1,810 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Princeton Bancorp by 8.0% during the 1st quarter. Empowered Funds LLC now owns 28,404 shares of the company’s stock worth $874,000 after acquiring an additional 2,100 shares during the period. 43.36% of the stock is currently owned by institutional investors and hedge funds.

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.