Ponce Financial Group (NASDAQ:PDLB) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Ponce Financial Group (NASDAQ:PDLB) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other brokerages also recently commented on PDLB. Wall Street Zen downgraded Ponce Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. New Street Research set a $24.00 price target on Ponce Financial Group in a research report on Wednesday, May 20th. Finally, Weiss Ratings downgraded Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. One 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 stock. Based on data from MarketBeat, Ponce Financial Group has a consensus rating of “Buy” and an average price target of $24.00.

Ponce Financial Group Trading Up 0.8%

NASDAQ PDLB opened at $20.18 on Monday. Ponce Financial Group has a 1 year low of $13.71 and a 1 year high of $20.74. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $488.15 million, a PE ratio of 15.52 and a beta of 0.68. The company has a fifty day moving average of $19.26 and a 200 day moving average of $17.67.

Ponce Financial Group (NASDAQ:PDLB) last announced its quarterly earnings results on Friday, April 24th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. The company had revenue of $30.27 million for the quarter, compared to the consensus estimate of $26.70 million. Ponce Financial Group had a return on equity of 10.09% and a net margin of 15.74%. Research analysts forecast that Ponce Financial Group will post 10.53 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in Ponce Financial Group by 6.3% in the 2nd quarter. First Trust Advisors LP now owns 15,335 shares of the company’s stock worth $212,000 after purchasing an additional 912 shares during the period. Sei Investments Co. grew its holdings in Ponce Financial Group by 2.2% in the first quarter. Sei Investments Co. now owns 50,457 shares of the company’s stock valued at $843,000 after purchasing an additional 1,067 shares during the period. Tower Research Capital LLC TRC grew its holdings in Ponce Financial Group by 46.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock valued at $49,000 after purchasing an additional 1,114 shares during the period. Millennium Management LLC increased its position in shares of Ponce Financial Group by 3.2% in the third quarter. Millennium Management LLC now owns 53,069 shares of the company’s stock valued at $780,000 after buying an additional 1,650 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Ponce Financial Group by 0.3% in the first quarter. Bank of America Corp DE now owns 504,558 shares of the company’s stock valued at $8,431,000 after buying an additional 1,658 shares in the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.

About Ponce Financial Group

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.