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

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

Ponce Financial Group Stock Performance

NASDAQ PDLB traded up $0.18 during trading on Tuesday, hitting $16.62. The company’s stock had a trading volume of 55,302 shares, compared to its average volume of 55,341. Ponce Financial Group has a 52 week low of $10.88 and a 52 week high of $18.01. The firm has a market cap of $398.90 million, a P/E ratio of 18.67 and a beta of 0.74. The firm has a 50 day moving average price of $16.29 and a 200 day moving average price of $15.17. The company has a quick ratio of 1.28, a current ratio of 1.29 and a debt-to-equity ratio of 1.71.

Analysts Set New Price Targets

PDLB has been the topic of a number of recent research reports. Zacks Research upgraded shares of Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Wall Street Zen downgraded shares of Ponce Financial Group from a “buy” rating to a “hold” rating in a research report on Friday. Janney Montgomery Scott raised Ponce Financial Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ponce Financial Group in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Ponce Financial Group currently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Ponce Financial Group

Several large investors have recently bought and sold shares of PDLB. Jane Street Group LLC bought a new stake in Ponce Financial Group in the first quarter valued at about $277,000. Franklin Resources Inc. bought a new stake in shares of Ponce Financial Group in the 2nd quarter valued at approximately $181,000. Rhumbline Advisers grew its stake in shares of Ponce Financial Group by 31.0% in the 2nd quarter. Rhumbline Advisers now owns 26,348 shares of the company’s stock valued at $365,000 after purchasing an additional 6,231 shares during the period. American Century Companies Inc. raised its holdings in shares of Ponce Financial Group by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock worth $254,000 after buying an additional 4,008 shares in the last quarter. Finally, Invesco Ltd. bought a new position in shares of Ponce Financial Group during the 2nd quarter worth approximately $169,000. 64.35% of the stock is currently 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.