Ponce Financial Group (NASDAQ:PDLB) Posts Earnings Results, Misses Expectations By $0.02 EPS

Ponce Financial Group (NASDAQ:PDLB) posted its quarterly earnings data on Monday. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02), FiscalAI reports. The company had revenue of $31.59 million for the quarter, compared to analyst estimates of $30.90 million. Ponce Financial Group had a net margin of 15.74% and a return on equity of 10.09%.

Ponce Financial Group Stock Performance

Shares of PDLB stock opened at $20.20 on Monday. The firm’s 50 day moving average price is $19.41 and its two-hundred day moving average price is $17.75. Ponce Financial Group has a fifty-two week low of $13.71 and a fifty-two week high of $20.74. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.75. The stock has a market cap of $488.64 million, a price-to-earnings ratio of 15.54 and a beta of 0.68.

Institutional Trading of Ponce Financial Group

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in Ponce Financial Group by 275.8% in the third quarter. Russell Investments Group Ltd. now owns 2,698 shares of the company’s stock valued at $40,000 after acquiring an additional 1,980 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Ponce Financial Group by 46.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock valued at $49,000 after buying an additional 1,114 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Ponce Financial Group by 104.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,928 shares of the company’s stock worth $58,000 after purchasing an additional 2,007 shares during the period. Invesco Ltd. acquired a new position in shares of Ponce Financial Group during the second quarter valued at $169,000. Finally, Franklin Resources Inc. bought a new stake in shares of Ponce Financial Group during the second quarter valued at approximately $181,000. 64.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on PDLB shares. Wall Street Zen lowered shares of Ponce Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. New Street Research set a $24.00 price target on shares of Ponce Financial Group in a report on Wednesday, May 20th. Weiss Ratings lowered shares of Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. Finally, Zacks Research lowered shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Ponce Financial Group has a consensus rating of “Buy” and a consensus target price of $24.00.

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.