Ponce Financial Group (NASDAQ:PDLB) Reaches New 1-Year High - Here's Why

Key Points

• Ponce Financial Group shares reached a new 52-week high of $22.93 and were last trading at $22.88, up from a previous close of $22.49.
• The company exceeded quarterly expectations, reporting EPS of $0.76 versus the $0.52 consensus and revenue of $34.84 million compared with estimates of $31.80 million.
• Analysts maintain an overall “Buy” rating with an average price target of $24.00, while institutional investors own 64.35% of the stock.

Ponce Financial Group, Inc. (NASDAQ:PDLB - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday. The company traded as high as $22.93 and last traded at $22.88, with a volume of 34,516 shares changing hands. The stock had previously closed at $22.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Ponce Financial Group from a "buy (a-)" rating to a "buy (a)" rating in a research note on Friday, October 23rd. Zacks Research lowered shares of Ponce Financial Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Ponce Financial Group presently has an average rating of "Buy" and an average target price of $24.00.

Ponce Financial Group Stock Up 1.5%

The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a 50 day simple moving average of $20.46 and a two-hundred day simple moving average of $18.71. The stock has a market cap of $552.02 million, a P/E ratio of 12.06 and a beta of 0.72.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last issued its quarterly earnings results on Monday, October 26th. The company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.24. Ponce Financial Group had a return on equity of 13.94% and a net margin of 21.21%. The company had revenue of $34.84 million for the quarter, compared to analyst estimates of $31.80 million. Equities research analysts predict that Ponce Financial Group, Inc. will post 1.59 earnings per share for the current year.

Institutional Trading of Ponce Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. M3F Inc. boosted its holdings in shares of Ponce Financial Group by 8.0% in the first quarter. M3F Inc. now owns 2,003,960 shares of the company's stock valued at $33,486,000 after acquiring an additional 147,979 shares in the last quarter. Empirical Finance LLC lifted its position in Ponce Financial Group by 19.4% in the first quarter. Empirical Finance LLC now owns 247,389 shares of the company's stock worth $4,134,000 after purchasing an additional 40,176 shares during the period. Verdence Capital Advisors LLC acquired a new stake in Ponce Financial Group in the third quarter worth approximately $698,000. Dimensional Fund Advisors LP boosted its stake in Ponce Financial Group by 2.8% during 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 in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Ponce Financial Group by 9.9% during the 1st quarter. Renaissance Technologies LLC now owns 242,135 shares of the company's stock valued at $4,046,000 after purchasing an additional 21,888 shares during the period. 64.35% of the stock is currently owned by institutional investors.

Ponce Financial Group Company Profile

Ponce Financial Group, Inc is the holding company for Ponce Bank, a community-focused savings bank headquartered in the Bronx, New York. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and nonprofit organizations in the New York metropolitan area.

Ponce Bank's primary offerings include deposit accounts, residential and commercial real estate lending, multifamily and construction loans, commercial and industrial financing, consumer loans and other traditional banking services.

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