Ponce Financial Group, Inc. $PDLB Shares Sold by Empirical Finance LLC

Key Points

• Empirical Finance LLC cut its Ponce Financial Group stake by 53.8% in the second quarter, selling 133,210 shares and retaining 114,179 shares worth approximately $2.28 million. Institutional investors and hedge funds collectively own 64.35% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and a $24.00 price target. Ratings include one Strong Buy, one Buy and one Hold.
• PDLB shares opened at $20.33, near their 52-week high of $21.10. In its latest quarterly results, the company reported $0.35 in earnings per share, below the $0.37 consensus estimate, while revenue of $31.59 million exceeded expectations.

Empirical Finance LLC trimmed its position in shares of Ponce Financial Group, Inc. (NASDAQ:PDLB - Free Report) by 53.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,179 shares of the company's stock after selling 133,210 shares during the quarter. Empirical Finance LLC owned 0.47% of Ponce Financial Group worth $2,277,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in Ponce Financial Group by 275.8% during the third quarter. Russell Investments Group Ltd. now owns 2,698 shares of the company's stock worth $40,000 after purchasing an additional 1,980 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of 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 valued at $49,000 after purchasing an additional 1,114 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Ponce Financial Group by 104.5% in the third quarter. BNP Paribas Financial Markets now owns 3,928 shares of the company's stock valued at $58,000 after purchasing an additional 2,007 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Ponce Financial Group by 417.2% in the second quarter. California State Teachers Retirement System now owns 5,503 shares of the company's stock valued at $110,000 after purchasing an additional 4,439 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in Ponce Financial Group during the 4th quarter worth approximately $197,000. 64.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PDLB shares. Weiss Ratings reiterated a "buy (b+)" rating on shares of Ponce Financial Group in a report on Friday, August 7th. New Street Research set a $24.00 price target on shares of Ponce Financial Group in a research note on Wednesday, May 20th. Finally, Zacks Research lowered 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 assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $24.00.

Ponce Financial Group Stock Performance

Shares of PDLB opened at $20.33 on Wednesday. Ponce Financial Group, Inc. has a 1 year low of $13.91 and a 1 year high of $21.10. The stock has a market capitalization of $491.78 million, a PE ratio of 14.52 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 stock has a 50-day simple moving average of $20.26 and a 200-day simple moving average of $18.61.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last released its earnings results on Monday, July 27th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.02). The firm had revenue of $31.59 million for the quarter, compared to analysts' expectations of $30.90 million. Ponce Financial Group had a return on equity of 10.52% and a net margin of 16.51%. On average, analysts predict that Ponce Financial Group, Inc. will post 10.53 earnings per share for the current fiscal year.

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.

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