Ponce Financial Group (NASDAQ:PDLB) Releases Earnings Results, Beats Estimates By $0.14 EPS

Ponce Financial Group (NASDAQ:PDLB) announced its quarterly earnings data on Tuesday. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14, Zacks reports. Ponce Financial Group had a return on equity of 7.35% and a net margin of 11.46%.

Ponce Financial Group Price Performance

Shares of NASDAQ PDLB traded up $0.19 during midday trading on Tuesday, reaching $16.63. The stock had a trading volume of 55,302 shares, compared to its average volume of 55,494. The company has a market capitalization of $399.14 million, a price-to-earnings ratio of 18.69 and a beta of 0.74. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.28 and a current ratio of 1.29. The stock has a 50-day moving average of $16.29 and a 200-day moving average of $15.17. Ponce Financial Group has a 12-month low of $10.88 and a 12-month high of $18.01.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Ponce Financial Group in a research note on Thursday. Wall Street Zen cut Ponce Financial Group from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Research raised Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Janney Montgomery Scott upgraded Ponce Financial Group to a “strong-buy” rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Ponce Financial Group has a consensus rating of “Buy”.

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 PDLB. First Trust Advisors LP grew its stake in shares of Ponce Financial Group by 6.3% during 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 last quarter. Tower Research Capital LLC TRC grew its position in Ponce Financial Group by 46.5% in the 2nd 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 increased its stake in Ponce Financial Group by 3.2% in the third quarter. Millennium Management LLC now owns 53,069 shares of the company’s stock worth $780,000 after purchasing an additional 1,650 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Ponce Financial Group by 275.8% during the third quarter. Russell Investments Group Ltd. now owns 2,698 shares of the company’s stock worth $40,000 after purchasing an additional 1,980 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Ponce Financial Group by 104.5% during the third quarter. BNP Paribas Financial Markets now owns 3,928 shares of the company’s stock valued at $58,000 after purchasing an additional 2,007 shares during the period. 64.35% of the stock is owned by institutional investors.

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.