Ponce Financial Group (NASDAQ:PDLB) Upgraded to Strong-Buy at Zacks Research

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

A number of other research analysts have also recently commented on the company. Janney Montgomery Scott upgraded Ponce Financial Group to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ponce Financial Group in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Ponce Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Ponce Financial Group Price Performance

Shares of NASDAQ PDLB traded up $0.50 during trading hours on Thursday, hitting $15.08. 113,706 shares of the stock were exchanged, compared to its average volume of 53,796. The company’s fifty day simple moving average is $14.62 and its two-hundred day simple moving average is $14.06. The company has a market cap of $361.92 million, a PE ratio of 16.94 and a beta of 0.84. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.27 and a current ratio of 1.28. Ponce Financial Group has a 1-year low of $10.88 and a 1-year high of $15.21.

Ponce Financial Group (NASDAQ:PDLB) last issued its earnings results on Friday, October 24th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Ponce Financial Group had a return on equity of 7.45% and a net margin of 11.46%.The firm had revenue of $26.74 million for the quarter. On average, sell-side analysts predict that Ponce Financial Group will post 0.39 EPS for the current year.

Institutional Trading of Ponce Financial Group

Several large investors have recently modified their holdings of PDLB. Operose Advisors LLC acquired a new position in shares of Ponce Financial Group during the 1st quarter valued at $152,000. PDT Partners LLC boosted its position in shares of Ponce Financial Group by 8.0% during the 1st quarter. PDT Partners LLC now owns 11,081 shares of the company’s stock worth $140,000 after purchasing an additional 820 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Ponce Financial Group in the 1st quarter valued at about $277,000. Cornerstone Investment Partners LLC bought a new stake in Ponce Financial Group in the 2nd quarter valued at about $147,000. Finally, Los Angeles Capital Management LLC raised its stake in Ponce Financial Group by 47.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 59,474 shares of the company’s stock worth $823,000 after buying an additional 19,230 shares during the period. Institutional investors and hedge funds own 64.35% of the company’s stock.

About Ponce Financial Group

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.