Princeton Bancorp, Inc. $BPRN Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Princeton Bancorp, Inc. (NASDAQ:BPRN) by 24.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,688 shares of the company’s stock after buying an additional 3,044 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.23% of Princeton Bancorp worth $479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 acquiring an additional 431 shares during the period. Nuveen LLC purchased a new position in Princeton Bancorp during the first quarter valued at $229,000. SilverOak Wealth Management LLC acquired a new stake in shares of Princeton Bancorp in the second quarter valued at about $232,000. Charles Schwab Investment Management Inc. increased its stake in shares of Princeton Bancorp by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,573 shares of the company’s stock worth $445,000 after purchasing an additional 500 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Princeton Bancorp by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 21,460 shares of the company’s stock worth $656,000 after purchasing an additional 1,077 shares during the last quarter. Hedge funds and other institutional investors own 43.36% of the company’s stock.

Insider Buying and Selling

In other news, Director Susan Barrett acquired 1,600 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $31.50 per share, with a total value of $50,400.00. Following the completion of the acquisition, the director owned 4,542 shares of the company’s stock, valued at $143,073. This trade represents a 54.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew T. Clark sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $32.62, for a total transaction of $48,930.00. Following the sale, the insider owned 81 shares of the company’s stock, valued at approximately $2,642.22. The trade was a 94.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired 19,148 shares of company stock valued at $627,983 over the last 90 days. Insiders own 23.00% of the company’s stock.

Princeton Bancorp Trading Up 1.1%

BPRN stock opened at $32.61 on Friday. The firm has a 50-day moving average of $31.70 and a two-hundred day moving average of $31.68. Princeton Bancorp, Inc. has a 12 month low of $27.25 and a 12 month high of $38.78. The company has a market cap of $220.44 million, a price-to-earnings ratio of 12.69 and a beta of 0.65.

Princeton Bancorp (NASDAQ:BPRN) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $21.53 million during the quarter, compared to analysts’ expectations of $20.33 million. As a group, equities analysts forecast that Princeton Bancorp, Inc. will post 3.35 earnings per share for the current year.

Princeton Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, November 7th. This is an increase from Princeton Bancorp’s previous quarterly dividend of $0.30. Princeton Bancorp’s dividend payout ratio (DPR) is currently 54.47%.

Wall Street Analysts Forecast Growth

BPRN has been the topic of several research analyst reports. Janney Montgomery Scott upgraded Princeton Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Zacks Research upgraded Princeton Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Princeton Bancorp in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Princeton Bancorp presently has a consensus rating of “Buy” and an average price target of $35.00.

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.