Ponce Financial Group (NASDAQ:PDLB) Hits New 52-Week High – Still a Buy?

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

Wall Street Analysts Forecast Growth

PDLB has been the subject of a number of recent research reports. New Street Research set a $24.00 target price on Ponce Financial Group in a report on Wednesday, May 20th. Weiss Ratings reissued a “buy (b+)” rating on shares of Ponce Financial Group in a report on Friday, August 7th. Zacks Research lowered shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Wall Street Zen cut Ponce Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Ponce Financial Group has a consensus rating of “Buy” and a consensus price target of $24.00.

Ponce Financial Group Stock Performance

The stock has a 50 day moving average price of $19.93 and a two-hundred day moving average price of $18.16. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.85. The company has a market cap of $502.14 million, a price-to-earnings ratio of 14.83 and a beta of 0.69.

Ponce Financial Group (NASDAQ:PDLB) last posted its earnings results on Monday, July 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). The company had revenue of $31.59 million for the quarter, compared to analyst estimates of $30.90 million. Ponce Financial Group had a return on equity of 10.52% and a net margin of 16.51%. Analysts predict that Ponce Financial Group, Inc. will post 10.53 EPS for the current year.

Hedge Funds Weigh In On Ponce Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings 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 acquiring an additional 1,980 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in 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 acquiring an additional 1,114 shares during the period. BNP Paribas Financial Markets increased its holdings 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 worth $58,000 after acquiring an additional 2,007 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Ponce Financial Group in the fourth quarter worth about $113,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Ponce Financial Group during the fourth quarter worth about $197,000. 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.