Ponce Financial Group (NASDAQ:PDLB) Stock Falls 0.3% – Here’s Why

Ponce Financial Group, Inc. (NASDAQ:PDLB) fell 0.3% during trading on Wednesday. The company traded as low as $19.89 and last traded at $19.94. Approximately 114,585 shares were traded during trading, an increase of 44% from the average session volume of 79,483 shares. The stock had previously closed at $20.01.

Analysts Set New Price Targets

PDLB has been the subject of several research reports. Weiss Ratings restated a “buy (b+)” rating on shares of Ponce Financial Group in a research report on Friday, August 7th. Zacks Research cut 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 assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $24.00.

Ponce Financial Group Trading Up 1.3%

The firm has a fifty day moving average of $20.34 and a two-hundred day moving average of $19.08. The company has a market cap of $492.29 million, a PE ratio of 14.54 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.85.

Ponce Financial Group (NASDAQ:PDLB) last released its quarterly earnings data on Monday, July 27th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The business had revenue of $31.59 million for the quarter, compared to analysts’ expectations of $30.90 million. Ponce Financial Group had a net margin of 16.51% and a return on equity of 10.52%. As a group, sell-side analysts predict that Ponce Financial Group, Inc. will post 10.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. raised its holdings in Ponce Financial Group by 2.2% during the 1st quarter. Sei Investments Co. now owns 50,457 shares of the company’s stock valued at $843,000 after acquiring an additional 1,067 shares during the period. Mangrove Partners IM LLC boosted its holdings in shares of Ponce Financial Group by 6.5% in the fourth quarter. Mangrove Partners IM LLC now owns 191,343 shares of the company’s stock worth $3,128,000 after acquiring an additional 11,645 shares during the period. Renaissance Technologies LLC grew its position in shares of Ponce Financial Group by 9.9% in the first quarter. Renaissance Technologies LLC now owns 242,135 shares of the company’s stock valued at $4,046,000 after purchasing an additional 21,888 shares in the last quarter. Empirical Finance LLC grew its position in shares of Ponce Financial Group by 19.4% in the first quarter. Empirical Finance LLC now owns 247,389 shares of the company’s stock valued at $4,134,000 after purchasing an additional 40,176 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Ponce Financial Group by 0.3% during the 1st quarter. Bank of America Corp DE now owns 504,558 shares of the company’s stock valued at $8,431,000 after purchasing an additional 1,658 shares during the period. 64.35% of the stock is owned by institutional investors.

Ponce Financial Group Company Profile

Ponce Financial Group, Inc is the bank holding company for Ponce Bank, a community-focused financial institution headquartered in the Bronx, New York. Through its banking subsidiary, the company provides deposit accounts, residential mortgage loans, multifamily and commercial real estate financing, construction loans, commercial business loans and consumer lending products.

Ponce Bank primarily serves customers and businesses in the New York metropolitan area, with a focus on communities in the Bronx, Brooklyn, Queens, Manhattan and surrounding areas.