Ponce Financial Group (NASDAQ:PDLB) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded Ponce Financial Group from strong-buy to hold, adding to a mixed analyst picture for the stock.
• The stock still carries a consensus Buy rating with an average $24 price target, even as other firms recently trimmed ratings.
• Ponce Financial Group beat quarterly expectations, posting $0.36 EPS versus $0.27 expected and $30.27 million in revenue versus $26.70 million expected.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on PDLB. New Street Research set a $24.00 price objective on shares of Ponce Financial Group in a research note on Wednesday, May 20th. Weiss Ratings cut shares of Ponce Financial Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Ponce Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Ponce Financial Group presently has a consensus rating of "Buy" and an average target price of $24.00.

Ponce Financial Group Stock Performance

Shares of NASDAQ PDLB opened at $20.18 on Monday. The stock's 50-day moving average is $19.26 and its 200 day moving average is $17.67. The stock has a market cap of $488.15 million, a price-to-earnings ratio of 15.52 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 current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.75.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last issued its earnings results on Friday, April 24th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.09. The business had revenue of $30.27 million during the quarter, compared to analyst estimates of $26.70 million. Ponce Financial Group had a return on equity of 10.09% and a net margin of 15.74%. On average, sell-side analysts anticipate that Ponce Financial Group will post 10.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Ponce Financial Group

A number of large investors have recently modified their holdings of PDLB. Bank of America Corp DE increased its position in shares of Ponce Financial Group by 0.3% during the first quarter. Bank of America Corp DE now owns 504,558 shares of the company's stock valued at $8,431,000 after buying an additional 1,658 shares during the period. Empirical Finance LLC grew its holdings in shares of Ponce Financial Group by 19.4% during the 1st quarter. Empirical Finance LLC now owns 247,389 shares of the company's stock worth $4,134,000 after acquiring an additional 40,176 shares during the period. Renaissance Technologies LLC raised its position in shares of Ponce Financial Group by 9.9% in the 1st quarter. Renaissance Technologies LLC now owns 242,135 shares of the company's stock worth $4,046,000 after acquiring an additional 21,888 shares in the last quarter. Sei Investments Co. raised its position in shares of Ponce Financial Group by 2.2% in the 1st quarter. Sei Investments Co. now owns 50,457 shares of the company's stock worth $843,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Ponce Financial Group by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 939,100 shares of the company's stock valued at $15,692,000 after purchasing an additional 25,634 shares during the period. 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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