Ponce Financial Group (NASDAQ:PDLB) Announces Quarterly Earnings Results

Ponce Financial Group (NASDAQ:PDLB) issued its quarterly earnings results on Tuesday. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14, Zacks reports. The company had revenue of $31.41 million for the quarter. Ponce Financial Group had a return on equity of 9.68% and a net margin of 14.72%.

Ponce Financial Group Stock Performance

Shares of NASDAQ:PDLB opened at $16.77 on Thursday. The business’s 50-day simple moving average is $16.35 and its 200 day simple moving average is $15.20. The company has a market cap of $402.48 million, a P/E ratio of 18.84 and a beta of 0.74. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.28 and a current ratio of 1.29. Ponce Financial Group has a one year low of $10.88 and a one year high of $18.01.

Institutional Trading of Ponce Financial Group

A number of hedge funds have recently made changes to their positions in PDLB. Jane Street Group LLC acquired a new position in shares of Ponce Financial Group during the first quarter worth $277,000. Franklin Resources Inc. purchased a new stake in Ponce Financial Group during the 2nd quarter worth $181,000. Rhumbline Advisers lifted its holdings in Ponce Financial Group by 31.0% in the 2nd quarter. Rhumbline Advisers now owns 26,348 shares of the company’s stock worth $365,000 after buying an additional 6,231 shares in the last quarter. American Century Companies Inc. boosted its position in Ponce Financial Group by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock valued at $254,000 after buying an additional 4,008 shares during the last quarter. Finally, Invesco Ltd. acquired a new stake in shares of Ponce Financial Group during the second quarter valued at about $169,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Wall Street Analysts Forecast Growth

PDLB has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ponce Financial Group in a research report on Thursday, January 22nd. Zacks Research upgraded Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Wall Street Zen lowered shares of Ponce Financial Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Janney Montgomery Scott raised shares of Ponce Financial Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ponce Financial Group has an average rating of “Buy”.

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.