Ponce Financial Group (NASDAQ:PDLB) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Ponce Financial Group reported quarterly EPS of $0.35, missing analysts’ $0.37 consensus by $0.02, while revenue of $31.59 million exceeded estimates of $30.90 million. The company posted a 10.09% return on equity and a 15.74% net margin.
• Shares opened at $20.20, near the company’s 52-week high of $20.74, with a market capitalization of approximately $488.6 million. Analysts maintain an overall “Buy” rating and a consensus price target of $24.00, despite recent downgrades to “Hold” from some firms.
• Institutional investors own 64.35% of Ponce Financial Group; several funds recently increased their positions or initiated new stakes, including Russell Investments, BNP Paribas Financial Markets, Invesco and Franklin Resources.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.02), FiscalAI reports. The firm had revenue of $31.59 million for the quarter, compared to analyst estimates of $30.90 million. Ponce Financial Group had a return on equity of 10.09% and a net margin of 15.74%.

Ponce Financial Group Stock Performance

NASDAQ PDLB opened at $20.20 on Monday. The business has a 50 day moving average price of $19.41 and a 200 day moving average price of $17.75. The company has a market capitalization of $488.64 million, a P/E ratio of 15.54 and a beta of 0.68. Ponce Financial Group has a 1-year low of $13.71 and a 1-year high of $20.74. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.33 and a quick ratio of 1.33.

Analyst Ratings Changes

PDLB has been the topic of several recent analyst reports. Wall Street Zen cut Ponce Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Zacks Research downgraded Ponce Financial Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Weiss Ratings lowered Ponce Financial Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, May 11th. Finally, New Street Research set a $24.00 target price on shares of Ponce Financial Group in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $24.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in Ponce Financial Group by 275.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,698 shares of the company's stock valued at $40,000 after acquiring an additional 1,980 shares during the last quarter. Tower Research Capital LLC TRC grew its position 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 last quarter. BNP Paribas Financial Markets grew its position 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 during the last quarter. Invesco Ltd. acquired a new position in shares of Ponce Financial Group during the 2nd quarter worth approximately $169,000. Finally, Franklin Resources Inc. acquired a new position in shares of Ponce Financial Group during the 2nd quarter worth approximately $181,000. Hedge funds and other institutional investors own 64.35% of the company's stock.

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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