Ponce Financial Group (NASDAQ:PDLB) Trading Down 1.9% – Here’s What Happened

Ponce Financial Group, Inc. (NASDAQ:PDLB)’s share price dropped 1.9% during trading on Wednesday . The company traded as low as $18.95 and last traded at $19.11. Approximately 74,122 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 96,535 shares. The stock had previously closed at $19.48.

Analyst Ratings Changes

PDLB has been the subject of a number of recent analyst reports. Wall Street Zen cut Ponce Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research upgraded Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. Weiss Ratings cut Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. Finally, New Street Research set a $24.00 price objective on Ponce Financial Group in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Strong Buy” and an average price target of $24.00.

Ponce Financial Group Price Performance

The firm has a market capitalization of $462.27 million, a PE ratio of 14.70 and a beta of 0.69. The stock has a 50-day moving average price of $18.18 and a 200 day moving average price of $17.10. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.75.

Ponce Financial Group (NASDAQ:PDLB) last posted its quarterly earnings data on Friday, April 24th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. Ponce Financial Group had a return on equity of 10.09% and a net margin of 15.74%.The business had revenue of $30.27 million during the quarter, compared to analysts’ expectations of $26.70 million. Equities analysts forecast that Ponce Financial Group, Inc. will post 10.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. M3F Inc. raised its stake in Ponce Financial Group by 8.0% in the 1st quarter. M3F Inc. now owns 2,003,960 shares of the company’s stock valued at $33,486,000 after purchasing an additional 147,979 shares during the last quarter. Vanguard Group Inc. raised its stake in Ponce Financial Group by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,113,564 shares of the company’s stock valued at $16,369,000 after purchasing an additional 10,221 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ponce Financial Group by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 939,100 shares of the company’s stock valued at $15,692,000 after purchasing an additional 25,634 shares during the last quarter. Bank of America Corp DE raised its stake in Ponce Financial Group by 0.3% in 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 last quarter. Finally, Empirical Finance LLC raised its stake in Ponce Financial Group by 19.4% in the 1st 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 during the last quarter. 64.35% of the stock is owned by institutional investors and hedge funds.

Ponce Financial Group Company Profile

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.