Ponce Financial Group (NASDAQ:PDLB) Releases Earnings Results, Beats Expectations By $0.24 EPS

Ponce Financial Group (NASDAQ:PDLB) posted its quarterly earnings data on Monday. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.24, Zacks reports. The company had revenue of $34.84 million for the quarter, compared to analysts’ expectations of $31.80 million.

Ponce Financial Group Price Performance

NASDAQ:PDLB traded up $0.59 during mid-day trading on Wednesday, reaching $22.38. The stock had a trading volume of 9,309 shares, compared to its average volume of 75,477. The business has a 50 day simple moving average of $20.33 and a 200 day simple moving average of $18.61. Ponce Financial Group has a twelve month low of $13.91 and a twelve month high of $22.10.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PDLB. Weiss Ratings upgraded shares of Ponce Financial Group from a “buy (a-)” rating to a “buy (a)” rating in a research note on Friday. Zacks Research lowered shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $24.00.

Ponce Financial Group Company Profile

Ponce Financial Group, Inc is the holding company for Ponce Bank, a community-focused savings bank headquartered in the Bronx, New York. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and nonprofit organizations in the New York metropolitan area.

Ponce Bank’s primary offerings include deposit accounts, residential and commercial real estate lending, multifamily and construction loans, commercial and industrial financing, consumer loans and other traditional banking services.