Ponce Financial Group (NASDAQ:PDLB) Announces Earnings Results, Beats Expectations By $0.09 EPS

Ponce Financial Group (NASDAQ:PDLB) released its quarterly earnings results on Friday. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09, FiscalAI reports. Ponce Financial Group had a return on equity of 9.52% and a net margin of 14.72%.The firm had revenue of $30.27 million during the quarter, compared to analysts’ expectations of $26.70 million.

Ponce Financial Group Stock Performance

PDLB stock opened at $17.71 on Friday. The company has a 50 day moving average price of $16.82 and a 200 day moving average price of $16.18. Ponce Financial Group has a fifty-two week low of $11.79 and a fifty-two week high of $18.05. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $427.87 million, a PE ratio of 14.88 and a beta of 0.67.

Institutional Investors Weigh In On Ponce Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in PDLB. First Trust Advisors LP lifted its holdings in Ponce Financial Group by 6.3% in the second quarter. First Trust Advisors LP now owns 15,335 shares of the company’s stock valued at $212,000 after buying an additional 912 shares during the period. Tower Research Capital LLC TRC boosted its stake in Ponce Financial Group by 46.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock valued at $49,000 after acquiring an additional 1,114 shares during the last quarter. Millennium Management LLC grew its holdings in Ponce Financial Group by 3.2% during the 3rd quarter. Millennium Management LLC now owns 53,069 shares of the company’s stock worth $780,000 after acquiring an additional 1,650 shares during the period. Russell Investments Group Ltd. grew its holdings in Ponce Financial Group by 275.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,698 shares of the company’s stock worth $40,000 after acquiring an additional 1,980 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Ponce Financial Group by 104.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,928 shares of the company’s stock valued at $58,000 after acquiring an additional 2,007 shares during the last quarter. 64.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Zacks Research upgraded Ponce Financial Group to a “hold” rating in a report on Friday, February 6th. Weiss Ratings raised Ponce Financial Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Finally, Wall Street Zen upgraded shares of Ponce Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Two 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, Ponce Financial Group has an average rating of “Buy”.

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.