Systematic Financial Management LP Grows Holdings in Princeton Bancorp, Inc. (NASDAQ:BPRN)

Systematic Financial Management LP raised its position in Princeton Bancorp, Inc. (NASDAQ:BPRN) by 6.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 339,411 shares of the company’s stock after purchasing an additional 20,639 shares during the period. Systematic Financial Management LP’s holdings in Princeton Bancorp were worth $11,686,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in Princeton Bancorp by 1.9% in the fourth quarter. Empowered Funds LLC now owns 32,772 shares of the company’s stock valued at $1,128,000 after buying an additional 600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Princeton Bancorp by 6.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,950 shares of the company’s stock valued at $377,000 after purchasing an additional 633 shares during the period. Wells Fargo & Company MN grew its position in shares of Princeton Bancorp by 38.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,222 shares of the company’s stock valued at $111,000 after purchasing an additional 898 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Princeton Bancorp by 565.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,071 shares of the company’s stock valued at $37,000 after purchasing an additional 910 shares during the period. Finally, Barclays PLC grew its position in shares of Princeton Bancorp by 25.1% in the fourth quarter. Barclays PLC now owns 8,258 shares of the company’s stock valued at $284,000 after purchasing an additional 1,659 shares during the period. Hedge funds and other institutional investors own 43.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded shares of Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, February 4th.

Insider Buying and Selling

In related news, insider Stephanie Adkins sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $31.37, for a total transaction of $31,370.00. Following the transaction, the insider now directly owns 10,794 shares in the company, valued at approximately $338,607.78. The trade was a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Martin Tuchman purchased 1,019 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $32.00 per share, for a total transaction of $32,608.00. Following the completion of the transaction, the director now directly owns 111,788 shares of the company’s stock, valued at $3,577,216. The trade was a 0.92% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 5,452 shares of company stock worth $168,958 and have sold 1,933 shares worth $61,541. 23.00% of the stock is currently owned by company insiders.

Princeton Bancorp Stock Down 2.6%

Shares of NASDAQ BPRN opened at $32.10 on Friday. The company’s 50-day simple moving average is $30.03 and its 200-day simple moving average is $32.91. Princeton Bancorp, Inc. has a 52-week low of $27.25 and a 52-week high of $39.35. The firm has a market cap of $222.42 million, a price-to-earnings ratio of 19.11 and a beta of 0.63.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $20.95 million for the quarter, compared to analyst estimates of $20.73 million. Equities research analysts anticipate that Princeton Bancorp, Inc. will post 3.35 EPS for the current fiscal year.

Princeton Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Tuesday, May 6th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $1.20 dividend on an annualized basis and a yield of 3.74%. Princeton Bancorp’s payout ratio is presently 67.80%.

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.