Ponce Financial Group (NASDAQ:PDLB) Reaches New 1-Year High – Here’s Why

Shares of Ponce Financial Group, Inc. (NASDAQ:PDLB) hit a new 52-week high on Monday. The stock traded as high as $22.93 and last traded at $22.88, with a volume of 34,516 shares trading hands. The stock had previously closed at $22.49.

Analysts Set New Price Targets

PDLB has been the topic of several research reports. Zacks Research cut shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings upgraded shares of Ponce Financial Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $24.00.

Ponce Financial Group Price Performance

The stock has a 50-day moving average of $20.46 and a two-hundred day moving average of $18.71. The firm has a market cap of $552.02 million, a price-to-earnings ratio of 12.06 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.85.

Ponce Financial Group (NASDAQ:PDLB) last released its earnings results on Monday, October 26th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.24. Ponce Financial Group had a return on equity of 13.94% and a net margin of 21.21%. The company had revenue of $34.84 million for the quarter, compared to analysts’ expectations of $31.80 million. On average, analysts anticipate that Ponce Financial Group, Inc. will post 1.59 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. M3F Inc. increased its holdings in Ponce Financial Group by 8.0% in the 1st quarter. M3F Inc. now owns 2,003,960 shares of the company’s stock valued at $33,486,000 after buying an additional 147,979 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ponce Financial Group by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 939,100 shares of the company’s stock valued at $15,692,000 after purchasing an additional 25,634 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Ponce Financial Group by 0.3% in the 1st quarter. Bank of America Corp DE now owns 504,558 shares of the company’s stock valued at $8,431,000 after purchasing an additional 1,658 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Ponce Financial Group by 19.4% in the 1st quarter. Empirical Finance LLC now owns 247,389 shares of the company’s stock worth $4,134,000 after purchasing an additional 40,176 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Ponce Financial Group by 9.9% in the 1st quarter. Renaissance Technologies LLC now owns 242,135 shares of the company’s stock worth $4,046,000 after purchasing an additional 21,888 shares during the last quarter. 64.35% of the stock is currently owned by institutional investors and hedge funds.

About Ponce Financial Group

Ponce Financial Group, Inc is the holding company for Ponce Bank, a community-focused savings bank headquartered in the Bronx, New York. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and nonprofit organizations in the New York metropolitan area.

Ponce Bank’s primary offerings include deposit accounts, residential and commercial real estate lending, multifamily and construction loans, commercial and industrial financing, consumer loans and other traditional banking services.