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

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 136,000 shares, a drop of 5.9% from the October 15th total of 144,500 shares. Based on an average trading volume of 9,500 shares, the short-interest ratio is currently 14.3 days. Currently, 2.9% of the shares of the company are short sold.

Institutional Trading of Princeton Bancorp

A number of large investors have recently bought and sold shares of BPRN. BlackRock Inc. grew its stake in shares of Princeton Bancorp by 372.3% in the 2nd quarter. BlackRock Inc. now owns 249,974 shares of the company’s stock worth $6,829,000 after acquiring an additional 197,047 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Princeton Bancorp during the 4th quarter worth approximately $1,603,000. Geode Capital Management LLC boosted its stake in shares of Princeton Bancorp by 76.4% in the 2nd quarter. Geode Capital Management LLC now owns 96,380 shares of the company’s stock worth $2,633,000 after buying an additional 41,729 shares during the last quarter. State Street Corp boosted its position in Princeton Bancorp by 205.6% in the second quarter. State Street Corp now owns 58,919 shares of the company’s stock worth $1,610,000 after purchasing an additional 39,637 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Princeton Bancorp by 345.5% during the second quarter. Northern Trust Corp now owns 41,357 shares of the company’s stock worth $1,130,000 after purchasing an additional 32,073 shares during the period. 43.64% of the stock is currently owned by institutional investors and hedge funds.

Princeton Bancorp Stock Performance

Shares of BPRN stock opened at $33.05 on Friday. The stock has a market cap of $208.15 million, a price-to-earnings ratio of 7.62 and a beta of 0.58. The firm’s 50-day moving average is $30.09 and its 200-day moving average is $28.78. Princeton Bancorp has a 52-week low of $23.49 and a 52-week high of $37.60.

Princeton Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, November 10th. Princeton Bancorp’s dividend payout ratio is currently 27.65%.

Princeton Bancorp Company Profile

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 various loan products comprising commercial real estate and multi-family, commercial and industrial, construction, paycheck protection program, residential first-lien mortgage, home equity, and consumer loans.