Empowered Funds LLC Invests $1.23 Million in Pioneer Bancorp, Inc. $PBFS

Key Points

• Empowered Funds LLC acquired 72,147 shares of Pioneer Bancorp during the second quarter, valued at approximately $1.23 million and representing a 0.29% stake.
• Other institutional investors also increased or initiated positions, including BlackRock’s new $10.77 million stake and additional purchases by M3F, AllianceBernstein, Private Capital Management, and Dimensional Fund Advisors.
• Pioneer Bancorp reported quarterly EPS of $0.14 on revenue of $28.32 million. Despite a consensus “Buy” rating, Wall Street Zen downgraded the stock to “Sell,” while shares recently opened at $18.54.

Empowered Funds LLC bought a new stake in shares of Pioneer Bancorp, Inc. (NASDAQ:PBFS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 72,147 shares of the company's stock, valued at approximately $1,232,000. Empowered Funds LLC owned 0.29% of Pioneer Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. M3F Inc. boosted its holdings in Pioneer Bancorp by 1.9% in the first quarter. M3F Inc. now owns 2,071,973 shares of the company's stock worth $28,842,000 after purchasing an additional 38,119 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Pioneer Bancorp in the 2nd quarter worth $10,774,000. Alliancebernstein L.P. boosted its stake in shares of Pioneer Bancorp by 6.6% in the 3rd quarter. Alliancebernstein L.P. now owns 481,477 shares of the company's stock worth $6,288,000 after buying an additional 29,678 shares during the last quarter. Private Capital Management LLC grew its holdings in shares of Pioneer Bancorp by 1.9% in the third quarter. Private Capital Management LLC now owns 365,453 shares of the company's stock worth $4,773,000 after acquiring an additional 6,756 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Pioneer Bancorp by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 217,592 shares of the company's stock valued at $3,029,000 after acquiring an additional 1,537 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PBFS shares. Weiss Ratings downgraded shares of Pioneer Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. Wall Street Zen lowered Pioneer Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy".

Pioneer Bancorp Stock Performance

Pioneer Bancorp stock opened at $18.54 on Friday. The company has a market capitalization of $460.53 million, a PE ratio of 34.33 and a beta of 0.40. Pioneer Bancorp, Inc. has a fifty-two week low of $12.64 and a fifty-two week high of $19.42. The company has a 50 day moving average price of $17.35 and a 200-day moving average price of $15.69.

Pioneer Bancorp (NASDAQ:PBFS - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.14 EPS for the quarter. The firm had revenue of $28.32 million during the quarter.

Pioneer Bancorp Profile

Pioneer Bancorp, Inc is the bank holding company for Pioneer Bank, an FDIC-insured community bank headquartered in Islandia, New York. The company delivers a comprehensive suite of banking services to individuals, small businesses and nonprofit organizations across the Long Island region. Through its subsidiary, Pioneer Bank offers deposit accounts, consumer and commercial lending solutions, and cash management services tailored to local market needs.

The company’s retail offerings include checking and savings accounts, certificates of deposit and personal lending products, while commercial clients can access commercial real estate loans, business lines of credit, equipment financing and SBA-guaranteed loans.

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