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

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

Wall Street Analyst Weigh In

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

Ponce Financial Group Price Performance

The firm’s fifty day simple moving average is $18.22 and its two-hundred day simple moving average is $17.13. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $467.35 million, a price-to-earnings ratio of 14.86 and a beta of 0.69.

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, topping analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $30.27 million during the quarter, compared to the consensus estimate of $26.70 million. Ponce Financial Group had a net margin of 15.74% and a return on equity of 10.09%. Sell-side analysts anticipate that Ponce Financial Group, Inc. will post 10.53 EPS for the current year.

Institutional Investors Weigh In On Ponce Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PDLB. Russell Investments Group Ltd. lifted its stake in shares of Ponce Financial Group by 275.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,698 shares of the company’s stock valued at $40,000 after purchasing an additional 1,980 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Ponce Financial Group by 46.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock worth $49,000 after purchasing an additional 1,114 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Ponce Financial Group by 104.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,928 shares of the company’s stock valued at $58,000 after buying an additional 2,007 shares during the period. SG Americas Securities LLC purchased a new stake in Ponce Financial Group in the 4th quarter valued at about $113,000. Finally, Invesco Ltd. purchased a new stake in Ponce Financial Group in the 2nd quarter valued at about $169,000. Institutional investors and hedge funds own 64.35% of the company’s stock.

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.