Ponce Financial Group (NASDAQ:PDLB) Shares Up 1.1% – Here’s Why

Ponce Financial Group, Inc. (NASDAQ:PDLBGet Free Report) shares traded up 1.1% during mid-day trading on Friday . The company traded as high as $20.79 and last traded at $20.72. 42,818 shares were traded during mid-day trading, a decline of 43% from the average session volume of 74,645 shares. The stock had previously closed at $20.50.

Analyst Ratings Changes

PDLB has been the subject of several analyst reports. Wall Street Zen downgraded Ponce Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. New Street Research set a $24.00 price objective on Ponce Financial Group in a research note on Wednesday, May 20th. Weiss Ratings reissued a “buy (b+)” rating on shares of Ponce Financial Group in a report on Friday, August 7th. Finally, Zacks Research downgraded shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $24.00.

Read Our Latest Stock Analysis on PDLB

Ponce Financial Group Trading Up 1.1%

The company has a market cap of $501.22 million, a price-to-earnings ratio of 14.80 and a beta of 0.68. The company’s fifty day moving average price is $20.24 and its two-hundred day moving average price is $18.54. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.85.

Ponce Financial Group (NASDAQ:PDLBGet Free Report) last posted its earnings results on Monday, July 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $31.59 million during the quarter, compared to the consensus estimate of $30.90 million. Ponce Financial Group had a net margin of 16.51% and a return on equity of 10.52%. Research analysts expect that Ponce Financial Group, Inc. will post 10.53 earnings per share for the current year.

Hedge Funds Weigh In On Ponce Financial Group

Several institutional investors have recently bought and sold shares of PDLB. Jane Street Group LLC bought a new stake in shares of Ponce Financial Group during the first quarter worth $277,000. Franklin Resources Inc. acquired a new stake in shares of Ponce Financial Group in the second quarter valued at $181,000. Rhumbline Advisers raised its holdings in shares of Ponce Financial Group by 31.0% in the second quarter. Rhumbline Advisers now owns 26,348 shares of the company’s stock valued at $365,000 after buying an additional 6,231 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Ponce Financial Group by 27.9% in the second quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock valued at $254,000 after buying an additional 4,008 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in Ponce Financial Group during the 2nd quarter worth about $169,000. Institutional investors own 64.35% of the company’s stock.

About Ponce Financial Group

(Get Free Report)

Ponce Financial Group, Inc (NASDAQ: PDLB) is a bank holding company based in Puerto Rico. Through its primary subsidiary, Banco Ponce, the company offers a range of commercial and retail banking services tailored to individuals, small businesses and corporate clients across the island.

The company’s core business activities include deposit-taking, commercial and consumer lending, mortgage origination and servicing, and treasury management solutions. In addition to traditional banking products, Ponce Financial Group provides cash management, electronic banking and wealth management services designed to support the financial needs of its diverse client base.

Ponce Financial Group operates exclusively in Puerto Rico, serving both urban and rural communities through its branch network.

Further Reading

Receive News & Ratings for Ponce Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ponce Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.