Ponce Financial Group (NASDAQ:PDLB) Stock Price Down 0.3% – What’s Next?

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b+)” rating on shares of Ponce Financial Group in a research note on Friday, August 7th. Zacks Research downgraded shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research 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 company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $24.00.

Ponce Financial Group Trading Down 0.3%

The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.85. The firm has a market cap of $482.35 million, a price-to-earnings ratio of 14.24 and a beta of 0.68. The business’s fifty day moving average is $20.34 and its two-hundred day moving average is $19.05.

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

Institutional Investors Weigh In On Ponce Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the company. M3F Inc. lifted its stake in shares of Ponce Financial Group by 8.0% during the first quarter. M3F Inc. now owns 2,003,960 shares of the company’s stock valued at $33,486,000 after acquiring an additional 147,979 shares during the period. Dimensional Fund Advisors LP increased its position in Ponce Financial Group by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 939,100 shares of the company’s stock worth $15,692,000 after purchasing an additional 25,634 shares during the period. Bank of America Corp DE increased its position in 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 worth $8,431,000 after purchasing an additional 1,658 shares during the period. Empirical Finance LLC increased its position in Ponce Financial Group by 19.4% in the first quarter. Empirical Finance LLC now owns 247,389 shares of the company’s stock worth $4,134,000 after purchasing an additional 40,176 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Ponce Financial Group by 9.9% during the 1st quarter. Renaissance Technologies LLC now owns 242,135 shares of the company’s stock worth $4,046,000 after purchasing an additional 21,888 shares during the last quarter. Institutional investors own 64.35% of the company’s stock.

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.