Wall Street Zen Downgrades Ponce Financial Group (NASDAQ:PDLB) to Hold

Key Points

• Wall Street Zen downgraded Ponce Financial Group from a buy to a hold rating in a research note issued Saturday.
• The stock has seen mixed analyst views overall: Zacks upgraded it to hold, Weiss Ratings raised its score, and MarketBeat says the consensus rating remains a buy.
• Ponce Financial Group recently beat quarterly expectations, posting $0.36 EPS versus $0.27 expected and revenue of $30.27 million, while its shares traded near the top of their 52-week range at $17.84.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also commented on the stock. Zacks Research upgraded shares of Ponce Financial Group to a "hold" rating in a research note on Friday, February 6th. Weiss Ratings upgraded shares of Ponce Financial Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy".

Ponce Financial Group Price Performance

Shares of NASDAQ:PDLB opened at $17.84 on Friday. The firm's 50 day moving average is $16.98 and its two-hundred day moving average is $16.37. Ponce Financial Group has a 52 week low of $12.81 and a 52 week high of $18.05. The firm has a market capitalization of $431.01 million, a P/E ratio of 13.72 and a beta of 0.67. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.88.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.27 by $0.09. Ponce Financial Group had a net margin of 15.74% and a return on equity of 10.26%. The company had revenue of $30.27 million for the quarter, compared to analyst estimates of $26.70 million. Analysts anticipate that Ponce Financial Group will post 10.22 earnings per share for the current year.

Hedge Funds Weigh In On Ponce Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M3F Inc. boosted its stake in Ponce Financial Group by 8.0% in the 1st quarter. M3F Inc. now owns 2,003,960 shares of the company's stock worth $33,486,000 after purchasing an additional 147,979 shares during the period. Vanguard Group Inc. boosted its stake in Ponce Financial Group by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,113,564 shares of the company's stock worth $16,369,000 after purchasing an additional 10,221 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of 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 buying an additional 25,634 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Ponce Financial Group by 21.8% during the 4th quarter. Renaissance Technologies LLC now owns 220,247 shares of the company's stock valued at $3,601,000 after buying an additional 39,412 shares during the period. Finally, Mangrove Partners IM LLC boosted its stake in shares of Ponce Financial Group by 6.5% during the 4th quarter. Mangrove Partners IM LLC now owns 191,343 shares of the company's stock valued at $3,128,000 after buying an additional 11,645 shares during the period. Institutional investors and hedge funds own 64.35% of the company's stock.

Ponce Financial Group Company Profile

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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