Ponce Financial Group (NASDAQ:PDLB) Sets New 12-Month High – What’s Next?

Shares of Ponce Financial Group, Inc. (NASDAQ:PDLB) reached a new 52-week high during trading on Thursday . The stock traded as high as $20.89 and last traded at $20.71, with a volume of 3750 shares changing hands. The stock had previously closed at $20.68.

Wall Street Analyst Weigh In

A number of research firms recently commented on PDLB. Zacks Research cut Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Wall Street Zen downgraded Ponce Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Ponce Financial Group in a research note on Friday, August 7th. Finally, New Street Research set a $24.00 price target on Ponce Financial Group in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $24.00.

Ponce Financial Group Stock Up 0.0%

The company has a debt-to-equity ratio of 1.85, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $18.12. The company has a market capitalization of $500.37 million, a price-to-earnings ratio of 14.86 and a beta of 0.69.

Ponce Financial Group (NASDAQ:PDLB) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Ponce Financial Group had a net margin of 16.51% and a return on equity of 10.52%. The firm had revenue of $31.59 million during the quarter, compared to analyst estimates of $30.90 million. As a group, equities analysts predict that Ponce Financial Group, Inc. will post 10.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ponce Financial Group

Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in 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 period. Tower Research Capital LLC TRC boosted its stake in shares of 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 purchasing an additional 1,114 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Ponce Financial Group by 104.5% in 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. SG Americas Securities LLC acquired a new position in shares of Ponce Financial Group in the fourth quarter valued at approximately $113,000. Finally, Invesco Ltd. purchased a new stake in Ponce Financial Group during the 2nd quarter worth approximately $169,000. 64.35% of the stock is owned by institutional investors and hedge funds.

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.