Ponce Financial Group (NASDAQ:PDLB) Stock Price Up 1.1% – Time to Buy?

Ponce Financial Group, Inc. (NASDAQ:PDLB) shares traded up 1.1% during trading on Friday . The company traded as high as $20.79 and last traded at $20.72. 42,818 shares were traded during trading, a decline of 43% from the average daily volume of 74,645 shares. The stock had previously closed at $20.50.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PDLB. Zacks Research downgraded Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Wall Street Zen cut Ponce Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Ponce Financial Group in a report on Friday, August 7th. Finally, New Street Research set a $24.00 price target on Ponce Financial Group in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $24.00.

Ponce Financial Group Price Performance

The stock has a market cap of $501.22 million, a P/E ratio of 14.80 and a beta of 0.68. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.34 and a current ratio of 1.34. The business has a 50 day simple moving average of $20.24 and a 200-day simple moving average of $18.54.

Ponce Financial Group (NASDAQ:PDLB) last released its earnings results on Monday, July 27th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $31.59 million for the quarter, compared to the consensus estimate of $30.90 million. Ponce Financial Group had a return on equity of 10.52% and a net margin of 16.51%. On average, sell-side analysts forecast that Ponce Financial Group, Inc. will post 10.53 EPS for the current year.

Institutional Trading of Ponce Financial Group

Several hedge funds have recently added to or reduced their stakes in the stock. M3F Inc. grew its position in shares of Ponce Financial Group by 8.0% during the 1st quarter. M3F Inc. now owns 2,003,960 shares of the company’s stock valued at $33,486,000 after acquiring an additional 147,979 shares during the period. Informed Momentum Co LLC bought a new stake in shares of Ponce Financial Group in the 4th quarter worth approximately $1,169,000. Alliancebernstein L.P. lifted its stake in Ponce Financial Group by 38.3% in the third quarter. Alliancebernstein L.P. now owns 185,799 shares of the company’s stock valued at $2,731,000 after purchasing an additional 51,500 shares during the last quarter. Marshall Wace LLP lifted its stake in Ponce Financial Group by 72.3% in the fourth quarter. Marshall Wace LLP now owns 120,447 shares of the company’s stock valued at $1,969,000 after purchasing an additional 50,539 shares during the last quarter. Finally, Zacks Investment Management bought a new position in Ponce Financial Group during the fourth quarter valued at $661,000. Institutional investors 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.