Ponce Financial Group (NASDAQ:PDLB) Rating Increased 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 note published on Monday morning,Zacks.com reports.

Several other brokerages also recently issued reports on PDLB. New Street Research set a $24.00 price objective on shares of Ponce Financial Group in a research report on Wednesday, May 20th. Weiss Ratings downgraded shares of Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Ponce Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat, Ponce Financial Group has an average rating of “Strong Buy” and a consensus target price of $24.00.

Ponce Financial Group Trading Up 1.5%

Shares of PDLB stock opened at $18.84 on Monday. The firm has a 50 day moving average price of $17.41 and a two-hundred day moving average price of $16.70. 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 company has a market capitalization of $455.70 million, a PE ratio of 14.49 and a beta of 0.67. Ponce Financial Group has a 12-month low of $12.81 and a 12-month high of $18.99.

Ponce Financial Group (NASDAQ:PDLB) last issued its quarterly earnings data on Friday, April 24th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.09. The firm had revenue of $30.27 million during the quarter, compared to the consensus estimate of $26.70 million. Ponce Financial Group had a net margin of 15.74% and a return on equity of 10.09%. As a group, analysts predict that Ponce Financial Group will post 10.53 earnings per share for the current year.

Institutional Trading of Ponce Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of PDLB. Goldman Sachs Group Inc. boosted its position in Ponce Financial Group by 111.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 51,173 shares of the company’s stock valued at $837,000 after acquiring an additional 26,988 shares during the last quarter. Millennium Management LLC boosted its position in Ponce Financial Group by 3.2% during the third quarter. Millennium Management LLC now owns 53,069 shares of the company’s stock valued at $780,000 after acquiring an additional 1,650 shares during the last quarter. Rhumbline Advisers boosted its position in Ponce Financial Group by 31.0% during the second quarter. Rhumbline Advisers now owns 26,348 shares of the company’s stock valued at $365,000 after acquiring an additional 6,231 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Ponce Financial Group by 55.8% during the third quarter. JPMorgan Chase & Co. now owns 20,981 shares of the company’s stock valued at $308,000 after acquiring an additional 7,516 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Ponce Financial Group by 27.9% during the second quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock valued at $254,000 after acquiring an additional 4,008 shares during the last quarter. Institutional investors own 64.35% of the company’s stock.

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.