Ponce Financial Group (NASDAQ:PDLB) Rating Lowered to “Hold” at Zacks Research

Ponce Financial Group (NASDAQ:PDLB) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also issued reports on PDLB. Weiss Ratings lowered shares of Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. New Street Research set a $24.00 price target on Ponce Financial Group in a research note on Wednesday, May 20th. Finally, Wall Street Zen lowered Ponce Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $24.00.

Ponce Financial Group Trading Up 0.8%

Shares of NASDAQ PDLB opened at $20.18 on Monday. Ponce Financial Group has a 1 year low of $13.71 and a 1 year high of $20.74. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a 50-day moving average of $19.26 and a 200 day moving average of $17.67. The stock has a market cap of $488.15 million, a P/E ratio of 15.52 and a beta of 0.68.

Ponce Financial Group (NASDAQ:PDLB) last announced its quarterly earnings data on Friday, April 24th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $30.27 million for the quarter, compared to analysts’ expectations of $26.70 million. Ponce Financial Group had a net margin of 15.74% and a return on equity of 10.09%. As a group, sell-side analysts expect that Ponce Financial Group will post 10.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Ponce Financial Group

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Ponce Financial Group by 275.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,698 shares of the company’s stock valued at $40,000 after buying an additional 1,980 shares during the period. Tower Research Capital LLC TRC grew its holdings 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 worth $49,000 after acquiring an additional 1,114 shares during the period. BNP Paribas Financial Markets increased its position in Ponce Financial Group by 104.5% during the third quarter. BNP Paribas Financial Markets now owns 3,928 shares of the company’s stock valued at $58,000 after acquiring an additional 2,007 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Ponce Financial Group during the fourth quarter valued at $113,000. Finally, Invesco Ltd. bought a new position in Ponce Financial Group in the second quarter valued at about $169,000. Institutional investors own 64.35% of the company’s stock.

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.