Systematic Financial Management LP Trims Stock Position in Princeton Bancorp, Inc. $BPRN

Systematic Financial Management LP cut its holdings in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN) by 22.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 238,887 shares of the company’s stock after selling 71,145 shares during the period. Systematic Financial Management LP’s holdings in Princeton Bancorp were worth $8,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in BPRN. Raymond James Financial Inc. acquired a new stake in Princeton Bancorp during the 2nd quarter worth about $61,000. Tower Research Capital LLC TRC lifted its holdings in shares of Princeton Bancorp by 584.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,191 shares of the company’s stock valued at $67,000 after buying an additional 1,871 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Princeton Bancorp by 14.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,360 shares of the company’s stock valued at $103,000 after buying an additional 431 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Princeton Bancorp by 50.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,855 shares of the company’s stock worth $203,000 after buying an additional 1,953 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Princeton Bancorp in the fourth quarter worth about $211,000. 43.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BPRN. Weiss Ratings upgraded Princeton Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Zacks Research raised shares of Princeton Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Princeton Bancorp has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Insider Activity

In other news, insider Stephanie Adkins sold 1,600 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $35.04, for a total transaction of $56,064.00. Following the completion of the sale, the insider owned 21,272 shares of the company’s stock, valued at $745,370.88. This represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.10% of the stock is owned by insiders.

Princeton Bancorp Trading Up 7.6%

BPRN stock opened at $40.85 on Friday. Princeton Bancorp, Inc. has a 12-month low of $29.69 and a 12-month high of $41.15. The business’s 50-day moving average is $37.08 and its 200 day moving average is $35.81. The stock has a market cap of $278.19 million, a price-to-earnings ratio of 10.75 and a beta of 0.48.

Princeton Bancorp (NASDAQ:BPRN) last released its earnings results on Thursday, July 23rd. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.16. The business had revenue of $22.48 million for the quarter, compared to the consensus estimate of $21.84 million. Princeton Bancorp had a return on equity of 9.57% and a net margin of 18.99%. As a group, equities analysts forecast that Princeton Bancorp, Inc. will post 3.67 EPS for the current fiscal year.

Princeton Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 5th. Princeton Bancorp’s payout ratio is 36.84%.

About Princeton Bancorp

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.