Prudential Bancorp Inc (NASDAQ:PBIP) Sees Significant Drop in Short Interest

Prudential Bancorp Inc (NASDAQ:PBIP) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 29,700 shares, a decline of 14.4% from the January 15th total of 34,700 shares. Based on an average daily trading volume, of 5,800 shares, the days-to-cover ratio is currently 5.1 days. Currently, 0.4% of the shares of the stock are short sold.

Shares of PBIP stock traded down $0.22 during midday trading on Friday, reaching $17.73. 2,080 shares of the company were exchanged, compared to its average volume of 4,165. Prudential Bancorp has a 12 month low of $15.21 and a 12 month high of $19.57. The company has a market cap of $157.90 million, a P/E ratio of 15.83 and a beta of 0.05. The company’s 50 day moving average price is $17.94 and its two-hundred day moving average price is $17.45.

Prudential Bancorp (NASDAQ:PBIP) last released its quarterly earnings results on Friday, January 17th. The savings and loans company reported $0.28 EPS for the quarter. Prudential Bancorp had a net margin of 20.27% and a return on equity of 7.48%. The company had revenue of $7.18 million for the quarter.

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in shares of Prudential Bancorp by 0.3% during the 4th quarter. Renaissance Technologies LLC now owns 441,824 shares of the savings and loans company’s stock worth $8,187,000 after buying an additional 1,524 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Prudential Bancorp by 3.7% in the 2nd quarter. Northern Trust Corp now owns 98,457 shares of the savings and loans company’s stock worth $1,863,000 after purchasing an additional 3,549 shares in the last quarter. UBS Group AG raised its holdings in shares of Prudential Bancorp by 15.2% in the 4th quarter. UBS Group AG now owns 18,166 shares of the savings and loans company’s stock worth $337,000 after purchasing an additional 2,402 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Prudential Bancorp by 3.6% in the 4th quarter. California Public Employees Retirement System now owns 17,487 shares of the savings and loans company’s stock worth $324,000 after purchasing an additional 600 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Prudential Bancorp by 8.8% in the 3rd quarter. Rhumbline Advisers now owns 13,187 shares of the savings and loans company’s stock worth $224,000 after purchasing an additional 1,062 shares in the last quarter. Institutional investors own 41.01% of the company’s stock.

About Prudential Bancorp

Prudential Bancorp, Inc operates as the bank holding company for Prudential Bank that provides various banking products or services. The company accepts interest-bearing and non-interest-bearing checking, money market, savings, and certificates of deposit accounts. Its loan portfolio comprises single-family residential mortgage loans, construction and land development loans, non-residential or commercial real estate mortgage loans, home equity loans and lines of credit, and commercial business loans, as well as consumer loans, such as loans secured by deposit accounts and unsecured personal loans.

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