Ponce Financial Group (NASDAQ:PDLB) Upgraded to Strong-Buy at Zacks Research

Ponce Financial Group (NASDAQ:PDLB) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

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

Ponce Financial Group Trading Up 1.5%

Ponce Financial Group stock opened at $18.84 on Monday. The firm has a 50 day moving average of $17.41 and a 200 day moving average of $16.70. The firm has a market capitalization of $455.70 million, a price-to-earnings 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. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.75.

Ponce Financial Group (NASDAQ:PDLB) last released its earnings results 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 company had revenue of $30.27 million during the quarter, compared to analyst estimates 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, research analysts predict that Ponce Financial Group will post 10.53 earnings per share for the current year.

Institutional Trading of Ponce Financial Group

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in Ponce Financial Group by 275.8% in the third quarter. Russell Investments Group Ltd. now owns 2,698 shares of the company’s stock worth $40,000 after buying an additional 1,980 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Ponce Financial Group by 46.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock worth $49,000 after buying an additional 1,114 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Ponce Financial Group by 104.5% in the third quarter. BNP Paribas Financial Markets now owns 3,928 shares of the company’s stock worth $58,000 after buying an additional 2,007 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Ponce Financial Group in the fourth quarter worth $113,000. Finally, Invesco Ltd. purchased a new stake in Ponce Financial Group in the second quarter worth $169,000. 64.35% of the stock is currently owned by institutional investors.

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.