Ponce Financial Group, Inc. (NASDAQ:PDLB – Get Free Report) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 125,100 shares, a drop of 16.9% from the March 31st total of 150,600 shares. Based on an average daily volume of 36,700 shares, the days-to-cover ratio is currently 3.4 days.
Institutional Investors Weigh In On Ponce Financial Group
A number of hedge funds and other institutional investors have recently made changes to their positions in PDLB. Brandywine Global Investment Management LLC acquired a new stake in Ponce Financial Group in the 3rd quarter valued at $89,000. SG Americas Securities LLC acquired a new stake in Ponce Financial Group in the 4th quarter valued at $106,000. Los Angeles Capital Management LLC acquired a new stake in Ponce Financial Group in the 4th quarter valued at $195,000. Finally, Wittenberg Investment Management Inc. grew its stake in Ponce Financial Group by 18.7% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 105,317 shares of the company’s stock valued at $824,000 after acquiring an additional 16,600 shares during the period. Institutional investors and hedge funds own 64.35% of the company’s stock.
Ponce Financial Group Stock Performance
Shares of NASDAQ PDLB traded down $0.07 during midday trading on Monday, reaching $8.08. 3,153 shares of the stock were exchanged, compared to its average volume of 35,439. The firm has a market cap of $192.22 million, a price-to-earnings ratio of 54.33 and a beta of 0.55. Ponce Financial Group has a twelve month low of $6.51 and a twelve month high of $10.19. The firm has a 50-day simple moving average of $8.59 and a two-hundred day simple moving average of $8.79. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 2.57.
Ponce Financial Group Company Profile
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.
Further Reading
- Five stocks we like better than Ponce Financial Group
- Stock Splits, Do They Really Impact Investors?
- What Bulls and Bears May Be Getting Wrong about SOFI Stock
- What Investors Need to Know to Beat the Market
- Microsoft Analysis: Trends, Predictions & Investment Insight
- What is Forex and How Does it Work?
- onsemi: The Rebound is ON for This Chip Stock
Receive News & Ratings for Ponce Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ponce Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.