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

Ponce Financial Group (NASDAQ:PDLB) posted its quarterly earnings data on Tuesday. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm had revenue of $31.41 million during the quarter.

Ponce Financial Group Price Performance

Shares of NASDAQ:PDLB opened at $16.63 on Wednesday. The firm has a market cap of $399.12 million, a price-to-earnings ratio of 18.69 and a beta of 0.74. Ponce Financial Group has a 1 year low of $10.88 and a 1 year high of $18.01. The company has a current ratio of 1.29, a quick ratio of 1.28 and a debt-to-equity ratio of 1.71. The business has a fifty day simple moving average of $16.32 and a 200 day simple moving average of $15.19.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PDLB. Wall Street Zen lowered Ponce Financial Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Janney Montgomery Scott raised Ponce Financial Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Zacks Research upgraded Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ponce Financial Group in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Ponce Financial Group presently has a consensus rating of “Buy”.

Institutional Investors Weigh In On Ponce Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in Ponce Financial Group by 38.3% during the third quarter. Alliancebernstein L.P. now owns 185,799 shares of the company’s stock valued at $2,731,000 after acquiring an additional 51,500 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ponce Financial Group by 55.8% in the third quarter. JPMorgan Chase & Co. now owns 20,981 shares of the company’s stock worth $308,000 after acquiring an additional 7,516 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Ponce Financial Group during the 2nd quarter worth $536,000. Marshall Wace LLP bought a new position in shares of Ponce Financial Group during the 2nd quarter valued at $331,000. Finally, American Century Companies Inc. raised its holdings in shares of Ponce Financial Group by 27.9% during the 2nd quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock valued at $254,000 after purchasing an additional 4,008 shares in the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.

Ponce Financial Group Company Profile

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.