Raymond James Financial Inc. Purchases New Stake in Ponce Financial Group, Inc. (NASDAQ:PDLB)

Raymond James Financial Inc. purchased a new stake in shares of Ponce Financial Group, Inc. (NASDAQ:PDLB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 31,912 shares of the company's stock, valued at approximately $415,000. Raymond James Financial Inc. owned approximately 0.13% of Ponce Financial Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PDLB. Rangeley Capital LLC purchased a new stake in Ponce Financial Group in the 4th quarter worth approximately $598,000. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Ponce Financial Group in the 4th quarter valued at $534,000. JPMorgan Chase & Co. grew its position in shares of Ponce Financial Group by 107.5% during the 4th quarter. JPMorgan Chase & Co. now owns 66,647 shares of the company's stock valued at $866,000 after acquiring an additional 34,534 shares during the period. Barclays PLC raised its stake in shares of Ponce Financial Group by 267.8% during the 3rd quarter. Barclays PLC now owns 25,370 shares of the company's stock worth $297,000 after buying an additional 18,472 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Ponce Financial Group by 30.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 57,115 shares of the company's stock valued at $742,000 after purchasing an additional 13,179 shares in the last quarter. Hedge funds and other institutional investors own 64.35% of the company's stock.

Ponce Financial Group Price Performance

PDLB stock traded up $0.25 during trading on Tuesday, hitting $14.00. The stock had a trading volume of 110,581 shares, compared to its average volume of 50,994. The stock has a market capitalization of $335.79 million, a P/E ratio of 29.79 and a beta of 0.65. The company's 50-day moving average price is $12.37 and its two-hundred day moving average price is $12.73. Ponce Financial Group, Inc. has a twelve month low of $8.61 and a twelve month high of $14.07. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.26 and a quick ratio of 1.26.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.09 by $0.16. The firm had revenue of $24.58 million during the quarter, compared to the consensus estimate of $23.40 million. Ponce Financial Group had a return on equity of 4.01% and a net margin of 6.46%. As a group, research analysts predict that Ponce Financial Group, Inc. will post 0.39 EPS for the current fiscal year.

About Ponce Financial Group

Ponce Financial Group, Inc operates as the bank holding company for Ponce Bank that provides various banking products and services. It offers various deposit products, including demand accounts, NOW/IOLA, money market, reciprocal deposits, savings accounts, and certificates of deposit to individuals, business entities, and non-profit organizations, as well as individual retirement accounts.