Ponce Financial Group (NASDAQ:PDLB) Trading Down 1.9% – Here’s What Happened

Ponce Financial Group, Inc. (NASDAQ:PDLB)’s share price dropped 1.9% during trading on Wednesday . The company traded as low as $18.95 and last traded at $19.11. Approximately 74,122 shares were traded during trading, a decline of 23% from the average daily volume of 96,535 shares. The stock had previously closed at $19.48.

Analysts Set New Price Targets

PDLB has been the subject of a number of research reports. Zacks Research raised Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 25th. Weiss Ratings downgraded Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Wall Street Zen downgraded Ponce Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, New Street Research set a $24.00 target price on Ponce Financial Group in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and a consensus target price of $24.00.

Ponce Financial Group Price Performance

The company has a market capitalization of $462.27 million, a price-to-earnings ratio of 14.70 and a beta of 0.69. The stock has a fifty day simple moving average of $18.18 and a 200-day simple moving average of $17.10. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.33 and a quick ratio of 1.33.

Ponce Financial Group (NASDAQ:PDLB) last announced its quarterly earnings results on Friday, April 24th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. Ponce Financial Group had a return on equity of 10.09% and a net margin of 15.74%.The company had revenue of $30.27 million during the quarter, compared to the consensus estimate of $26.70 million. On average, equities research analysts anticipate that Ponce Financial Group, Inc. will post 10.53 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. M3F Inc. lifted its holdings in Ponce Financial Group by 8.0% in the first quarter. M3F Inc. now owns 2,003,960 shares of the company’s stock valued at $33,486,000 after acquiring an additional 147,979 shares during the period. Vanguard Group Inc. lifted its holdings in Ponce Financial Group by 0.9% in the third quarter. Vanguard Group Inc. now owns 1,113,564 shares of the company’s stock valued at $16,369,000 after acquiring an additional 10,221 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ponce Financial Group by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 939,100 shares of the company’s stock valued at $15,692,000 after acquiring an additional 25,634 shares during the period. Bank of America Corp DE lifted its holdings in Ponce Financial Group by 0.3% in the first quarter. Bank of America Corp DE now owns 504,558 shares of the company’s stock valued at $8,431,000 after acquiring an additional 1,658 shares during the period. Finally, Empirical Finance LLC lifted its holdings in Ponce Financial Group by 19.4% in the first quarter. Empirical Finance LLC now owns 247,389 shares of the company’s stock valued at $4,134,000 after acquiring an additional 40,176 shares during the period. 64.35% of the stock is owned by institutional investors and hedge funds.

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.