T. Rowe Price Investment Management Inc. Sells 144,840 Shares of Ponce Financial Group, Inc. $PDLB

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Ponce Financial Group by 6.3%, selling 144,840 shares and now holding 2,156,501 shares valued at approximately $27.32 million.
• Ponce Financial Group reported earnings of $0.25 per share for the last quarter, exceeding analysts' expectations of $0.17, with revenues of $26.49 million.
• Institutional investors own 64.35% of Ponce Financial Group's stock, which indicates significant interest from large financial entities in the company.

T. Rowe Price Investment Management Inc. cut its holdings in Ponce Financial Group, Inc. (NASDAQ:PDLB - Free Report) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,156,501 shares of the company's stock after selling 144,840 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 8.99% of Ponce Financial Group worth $27,323,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PDLB. BNP Paribas Financial Markets acquired a new stake in Ponce Financial Group in the fourth quarter valued at about $68,000. PDT Partners LLC acquired a new stake in Ponce Financial Group in the fourth quarter valued at approximately $133,000. Operose Advisors LLC acquired a new stake in Ponce Financial Group in the first quarter valued at approximately $152,000. Wells Fargo & Company MN boosted its position in Ponce Financial Group by 11.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,351 shares of the company's stock valued at $161,000 after buying an additional 1,298 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in Ponce Financial Group in the fourth quarter valued at approximately $177,000. 64.35% of the stock is owned by institutional investors and hedge funds.

Ponce Financial Group Price Performance

Ponce Financial Group stock traded down $0.05 during mid-day trading on Friday, reaching $14.81. The company had a trading volume of 1,229 shares, compared to its average volume of 43,195. Ponce Financial Group, Inc. has a fifty-two week low of $10.74 and a fifty-two week high of $15.06. The company has a current ratio of 1.28, a quick ratio of 1.27 and a debt-to-equity ratio of 1.81. The company has a market cap of $355.32 million, a P/E ratio of 20.56 and a beta of 0.70. The business has a fifty day simple moving average of $14.19 and a 200 day simple moving average of $13.30.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. Ponce Financial Group had a net margin of 9.59% and a return on equity of 6.09%. The firm had revenue of $26.49 million for the quarter, compared to analyst estimates of $25.40 million. On average, equities research analysts predict that Ponce Financial Group, Inc. will post 0.39 earnings per share for the current year.

Ponce Financial Group Profile

Ponce Financial Group, Inc operates as the bank holding company for Ponce Bank that provides various banking products and services. It offers various deposit products, including demand accounts, NOW/IOLA, money market, reciprocal deposits, savings accounts, and certificates of deposit to individuals, business entities, and non-profit organizations, as well as individual retirement accounts.