Ponce Financial Group (NASDAQ:PDLB) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Ponce Financial Group (NASDAQ:PDLB) announced its quarterly earnings data on Monday. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02), FiscalAI reports. Ponce Financial Group had a return on equity of 10.09% and a net margin of 15.74%.The company had revenue of $31.59 million for the quarter, compared to analyst estimates of $30.90 million.

Ponce Financial Group Price Performance

Shares of NASDAQ:PDLB opened at $20.20 on Monday. Ponce Financial Group has a one year low of $13.71 and a one year high of $20.74. The stock has a market capitalization of $488.64 million, a price-to-earnings ratio of 15.54 and a beta of 0.68. The company has a 50-day simple moving average of $19.41 and a 200-day simple moving average of $17.75. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.33 and a current ratio of 1.33.

Analysts Set New Price Targets

PDLB has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Ponce Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. 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 cut shares of Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Finally, Zacks Research downgraded shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $24.00.

Hedge Funds Weigh In On Ponce Financial Group

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in Ponce Financial Group during the 1st quarter valued at approximately $277,000. Franklin Resources Inc. acquired a new position in shares of Ponce Financial Group in the second quarter valued at approximately $181,000. Rhumbline Advisers increased its holdings in shares of Ponce Financial Group by 31.0% in the second quarter. Rhumbline Advisers now owns 26,348 shares of the company’s stock valued at $365,000 after purchasing an additional 6,231 shares during the period. American Century Companies Inc. raised its stake in shares of Ponce Financial Group by 27.9% during the second quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock worth $254,000 after purchasing an additional 4,008 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Ponce Financial Group during the second quarter worth approximately $169,000. Institutional investors and hedge funds own 64.35% of the company’s stock.

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.