Ponce Financial Group (NASDAQ:PDLB) Releases Earnings Results, Beats Estimates By $0.24 EPS

Ponce Financial Group (NASDAQ:PDLB) issued its quarterly earnings results on Monday. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.24, Zacks reports. The business had revenue of $34.84 million for the quarter, compared to the consensus estimate of $31.80 million. Ponce Financial Group had a net margin of 16.51% and a return on equity of 10.52%.

Ponce Financial Group Stock Up 3.1%

PDLB opened at $21.26 on Tuesday. The stock’s fifty day simple moving average is $20.31 and its 200 day simple moving average is $18.59. Ponce Financial Group has a 1-year low of $13.91 and a 1-year high of $21.31. The stock has a market cap of $514.24 million, a PE ratio of 15.19 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.85.

Analyst Ratings Changes

Several brokerages have recently issued reports on PDLB. Zacks Research lowered shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings upgraded Ponce Financial Group from a “buy (a-)” rating to a “buy (a)” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.00.

Ponce Financial Group Company Profile

Ponce Financial Group, Inc is the holding company for Ponce Bank, a community-focused savings bank headquartered in the Bronx, New York. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and nonprofit organizations in the New York metropolitan area.

Ponce Bank’s primary offerings include deposit accounts, residential and commercial real estate lending, multifamily and construction loans, commercial and industrial financing, consumer loans and other traditional banking services.