Ponce Financial Group (NASDAQ:PDLB) Issues Earnings Results, Beats Estimates By $0.05 EPS

Ponce Financial Group (NASDAQ:PDLB) issued its earnings results on Friday. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05, Zacks reports. Ponce Financial Group had a return on equity of 6.09% and a net margin of 9.59%.The firm had revenue of $26.74 million for the quarter.

Ponce Financial Group Stock Up 1.6%

NASDAQ:PDLB opened at $14.62 on Friday. The company has a market capitalization of $350.88 million, a price-to-earnings ratio of 16.43 and a beta of 0.82. Ponce Financial Group has a one year low of $10.88 and a one year high of $15.21. The stock has a 50-day simple moving average of $14.67 and a 200 day simple moving average of $13.83. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.27 and a current ratio of 1.28.

Hedge Funds Weigh In On Ponce Financial Group

A number of hedge funds have recently bought and sold shares of the company. Gamco Investors INC. ET AL acquired a new position in Ponce Financial Group in the second quarter valued at approximately $536,000. Marshall Wace LLP acquired a new position in Ponce Financial Group in the second quarter valued at approximately $331,000. Jane Street Group LLC acquired a new position in Ponce Financial Group in the first quarter valued at approximately $277,000. Franklin Resources Inc. acquired a new position in Ponce Financial Group in the second quarter valued at approximately $181,000. Finally, Invesco Ltd. acquired a new position in Ponce Financial Group in the second quarter valued at approximately $169,000. 64.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Ponce Financial Group in a research report on Saturday. Zacks Research lowered Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Ponce Financial Group Company Profile

Ponce Financial Group, Inc operates as the bank holding company for Ponce Bank that provides various banking products and services. It offers various deposit products, including demand accounts, NOW/IOLA, money market, reciprocal deposits, savings accounts, and certificates of deposit to individuals, business entities, and non-profit organizations, as well as individual retirement accounts.