Ponce Financial Group (NASDAQ:PDLB) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Ponce Financial Group (NASDAQ:PDLB) from a hold rating to a buy rating in a research note published on Saturday morning.

Other analysts also recently issued research reports about the stock. Zacks Research raised shares of Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ponce Financial Group in a research note on Wednesday, October 8th. Finally, Janney Montgomery Scott raised shares of Ponce Financial Group to a “strong-buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Ponce Financial Group presently has an average rating of “Buy”.

Ponce Financial Group Stock Down 0.9%

Shares of PDLB stock opened at $15.72 on Friday. The stock’s fifty day moving average price is $14.91 and its 200 day moving average price is $14.40. Ponce Financial Group has a 1-year low of $10.88 and a 1-year high of $16.09. The company has a market cap of $377.28 million, a price-to-earnings ratio of 17.66 and a beta of 0.73. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.29 and a quick ratio of 1.28.

Ponce Financial Group (NASDAQ:PDLB) last issued its quarterly earnings results on Friday, October 24th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Ponce Financial Group had a return on equity of 7.35% and a net margin of 11.46%.The business had revenue of $26.74 million during the quarter. On average, research analysts expect that Ponce Financial Group will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC boosted its stake in shares of Ponce Financial Group by 47.8% in the second quarter. Los Angeles Capital Management LLC now owns 59,474 shares of the company’s stock worth $823,000 after buying an additional 19,230 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Ponce Financial Group by 40.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,115 shares of the company’s stock valued at $1,026,000 after acquiring an additional 21,218 shares in the last quarter. Cornerstone Investment Partners LLC purchased a new position in Ponce Financial Group during the second quarter valued at approximately $147,000. Empirical Finance LLC acquired a new position in Ponce Financial Group in the second quarter valued at approximately $3,248,000. Finally, PDT Partners LLC boosted its position in Ponce Financial Group by 8.0% in the 1st quarter. PDT Partners LLC now owns 11,081 shares of the company’s stock worth $140,000 after purchasing an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Ponce Financial Group Company Profile

Ponce Financial Group, Inc operates as the bank holding company for Ponce Bank that provides various banking products and services. It offers various deposit products, including demand accounts, NOW/IOLA, money market, reciprocal deposits, savings accounts, and certificates of deposit to individuals, business entities, and non-profit organizations, as well as individual retirement accounts.