Ponce Financial Group, Inc. (NASDAQ:PDLB) Sees Significant Growth in Short Interest

Key Points

• Short interest rose 19.9% in March to 365,363 shares (about 1.6% of shares sold short), leaving a short-interest ratio of roughly 5.8 days.
• The stock traded up 2.5% to $17.95 and the company reported an earnings beat of $0.42 EPS vs. $0.28 expected; market cap is about $433.7M and analysts' consensus rating is "Buy."
• Institutional ownership is 64.35%, with recent new or increased positions from firms including Jane Street, Franklin Resources, Invesco, Rhumbline Advisers and American Century.

Ponce Financial Group, Inc. (NASDAQ:PDLB - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 365,363 shares, an increase of 19.9% from the March 15th total of 304,803 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 63,295 shares, the short-interest ratio is presently 5.8 days.

Ponce Financial Group Trading Up 2.5%

NASDAQ PDLB traded up $0.44 during mid-day trading on Friday, reaching $17.95. 76,766 shares of the stock were exchanged, compared to its average volume of 54,946. Ponce Financial Group has a one year low of $10.88 and a one year high of $18.05. The stock has a 50 day simple moving average of $16.73 and a 200-day simple moving average of $16.07. The stock has a market cap of $433.67 million, a P/E ratio of 14.71 and a beta of 0.67. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.34 and a quick ratio of 1.34.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last announced its earnings results on Tuesday, January 27th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.14. Ponce Financial Group had a net margin of 14.72% and a return on equity of 9.52%. The business had revenue of $31.41 million during the quarter. On average, analysts anticipate that Ponce Financial Group will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PDLB. Jane Street Group LLC purchased a new position in Ponce Financial Group during the first quarter worth about $277,000. Franklin Resources Inc. purchased a new stake in Ponce Financial Group in the second quarter worth $181,000. Rhumbline Advisers raised its position in shares of Ponce Financial Group by 31.0% in the second quarter. Rhumbline Advisers now owns 26,348 shares of the company's stock valued at $365,000 after purchasing an additional 6,231 shares during the period. American Century Companies Inc. raised its position in shares of Ponce Financial Group by 27.9% in the second quarter. American Century Companies Inc. now owns 18,378 shares of the company's stock valued at $254,000 after purchasing an additional 4,008 shares during the period. Finally, Invesco Ltd. bought a new stake in shares of Ponce Financial Group in the second quarter valued at approximately $169,000. 64.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on PDLB shares. Wall Street Zen raised shares of Ponce Financial Group from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. Weiss Ratings raised shares of Ponce Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 5th. Finally, Zacks Research raised shares of Ponce Financial Group to a "hold" rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy".

About Ponce Financial Group

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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