Ponce Financial Group, Inc. $PDLB Shares Sold by T. Rowe Price Investment Management Inc.

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. lessened its stake in Ponce Financial Group, Inc. (NASDAQ:PDLB - Free Report) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 about 8.99% of Ponce Financial Group worth $27,323,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PDLB. JPMorgan Chase & Co. raised its stake in shares of Ponce Financial Group by 107.5% in the 4th quarter. JPMorgan Chase & Co. now owns 66,647 shares of the company's stock valued at $866,000 after acquiring an additional 34,534 shares during the period. Wells Fargo & Company MN raised its stake in shares of Ponce Financial Group by 11.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,351 shares of the company's stock valued at $161,000 after acquiring an additional 1,298 shares during the period. Renaissance Technologies LLC raised its stake in shares of Ponce Financial Group by 1.7% in the 4th quarter. Renaissance Technologies LLC now owns 160,435 shares of the company's stock valued at $2,086,000 after acquiring an additional 2,700 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Ponce Financial Group in the 4th quarter valued at $415,000. Finally, Barclays PLC raised its stake in shares of Ponce Financial Group by 14.6% in the 4th quarter. Barclays PLC now owns 29,085 shares of the company's stock valued at $378,000 after acquiring an additional 3,715 shares during the period. Hedge funds and other institutional investors own 64.35% of the company's stock.

Ponce Financial Group Trading Down 0.1%

Shares of PDLB stock traded down $0.01 during mid-day trading on Tuesday, reaching $14.82. The company's stock had a trading volume of 20,703 shares, compared to its average volume of 39,326. The company's 50 day simple moving average is $14.11 and its 200-day simple moving average is $13.27. Ponce Financial Group, Inc. has a 12-month low of $10.74 and a 12-month high of $15.06. The company has a quick ratio of 1.27, a current ratio of 1.28 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $355.68 million, a PE ratio of 20.58 and a beta of 0.70.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported $0.25 EPS 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 business had revenue of $26.49 million for the quarter, compared to the consensus estimate of $25.40 million. On average, research analysts predict that Ponce Financial Group, Inc. will post 0.39 EPS for the current fiscal year.

About Ponce Financial Group

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.