Ponce Financial Group (NASDAQ:PDLB) Stock Price Up 1.1% - Still a Buy?

Key Points

• Ponce Financial Group shares rose 1.1% to $20.72, while trading volume fell 43% below the average. The stock remains above its 50-day and 200-day moving averages.
• Analysts maintain an overall “Buy” rating with an average price target of $24.00, although Zacks Research and Wall Street Zen recently downgraded the stock to “Hold.”
• The company reported quarterly EPS of $0.35, missing expectations by $0.02, but revenue of $31.59 million exceeded estimates. Institutional investors own 64.35% of the shares, with several hedge funds increasing their positions.

Ponce Financial Group, Inc. (NASDAQ:PDLB - Get Free Report)'s share price was up 1.1% on Friday . The company traded as high as $20.79 and last traded at $20.72. 42,818 shares changed hands during trading, a decline of 43% from the average session volume of 74,645 shares. The stock had previously closed at $20.50.

Analyst Upgrades and Downgrades

PDLB has been the topic of several research analyst reports. Zacks Research downgraded Ponce Financial Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. New Street Research set a $24.00 target price on Ponce Financial Group in a report on Wednesday, May 20th. Wall Street Zen lowered Ponce Financial Group from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a "buy (b+)" rating on shares of Ponce Financial Group in a research note on Friday, August 7th. One investment 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. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $24.00.

Ponce Financial Group Price Performance

The stock has a 50-day simple moving average of $20.24 and a 200 day simple moving average of $18.54. 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 company has a market cap of $501.22 million, a P/E ratio of 14.80 and a beta of 0.68.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last released 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). The firm had revenue of $31.59 million for the quarter, compared to the consensus estimate of $30.90 million. Ponce Financial Group had a net margin of 16.51% and a return on equity of 10.52%. On average, equities analysts expect that Ponce Financial Group, Inc. will post 10.53 EPS for the current year.

Hedge Funds Weigh In On Ponce Financial Group

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System boosted its position in shares of Ponce Financial Group by 417.2% during the 2nd quarter. California State Teachers Retirement System now owns 5,503 shares of the company's stock valued at $110,000 after acquiring an additional 4,439 shares in the last quarter. Bank of America Corp DE raised its position in Ponce Financial Group by 0.3% in the first quarter. Bank of America Corp DE now owns 504,558 shares of the company's stock worth $8,431,000 after purchasing an additional 1,658 shares in the last quarter. Empirical Finance LLC raised 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 in the last quarter. Renaissance Technologies LLC lifted its stake in Ponce Financial Group by 9.9% during the first quarter. Renaissance Technologies LLC now owns 242,135 shares of the company's stock worth $4,046,000 after purchasing an additional 21,888 shares during the period. Finally, Sei Investments Co. lifted its stake in Ponce Financial Group by 2.2% during the first quarter. Sei Investments Co. now owns 50,457 shares of the company's stock worth $843,000 after purchasing an additional 1,067 shares during the period. Institutional investors and hedge funds 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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