Ponce Financial Group (NASDAQ:PDLB) Stock Price Down 0.3% - What's Next?

Key Points

• Ponce Financial Group shares fell 0.3% to $19.94, while trading volume rose 44% above its average.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a consensus price target of $24.00, despite Zacks Research downgrading the stock to “Hold.”
• The company reported quarterly EPS of $0.35, missing estimates by $0.02, although revenue of $31.59 million exceeded expectations; institutional investors and hedge funds own 64.35% of the stock.

Ponce Financial Group, Inc. (NASDAQ:PDLB - Get Free Report) shares fell 0.3% on Wednesday. The company traded as low as $19.89 and last traded at $19.94. Approximately 114,585 shares were traded during trading, an increase of 44% from the average daily volume of 79,483 shares. The stock had previously closed at $20.01.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a "buy (b+)" rating on shares of Ponce Financial Group in a research note on Friday, August 7th. Zacks Research cut shares of Ponce Financial Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $24.00.

Ponce Financial Group Trading Down 0.3%

The company has a 50 day moving average of $20.34 and a 200 day moving average of $19.05. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.85. The firm has a market cap of $482.35 million, a price-to-earnings ratio of 14.24 and a beta of 0.68.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.02). Ponce Financial Group had a net margin of 16.51% and a return on equity of 10.52%. The company had revenue of $31.59 million for the quarter, compared to the consensus estimate of $30.90 million. As a group, research analysts anticipate that Ponce Financial Group, Inc. will post 10.53 EPS for the current year.

Hedge Funds Weigh In On Ponce Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. M3F Inc. increased its holdings in shares of Ponce Financial Group by 8.0% during the first quarter. M3F Inc. now owns 2,003,960 shares of the company's stock worth $33,486,000 after buying an additional 147,979 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $15,692,000 after acquiring an additional 25,634 shares in the last quarter. Bank of America Corp DE grew its position in Ponce Financial Group by 0.3% during the 1st quarter. Bank of America Corp DE now owns 504,558 shares of the company's stock worth $8,431,000 after acquiring an additional 1,658 shares during the last quarter. Empirical Finance LLC grew its position in 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 last quarter. Finally, Renaissance Technologies LLC grew its position in Ponce Financial Group by 9.9% during 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 during the last quarter. 64.35% of the stock is currently owned by institutional investors and hedge funds.

About Ponce Financial Group

Ponce Financial Group, Inc is the bank holding company for Ponce Bank, a community-focused financial institution headquartered in the Bronx, New York. Through its banking subsidiary, the company provides deposit accounts, residential mortgage loans, multifamily and commercial real estate financing, construction loans, commercial business loans and consumer lending products.

Ponce Bank primarily serves customers and businesses in the New York metropolitan area, with a focus on communities in the Bronx, Brooklyn, Queens, Manhattan and surrounding areas.

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