Ponce Financial Group (NASDAQ:PDLB) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Ponce Financial Group (NASDAQ:PDLB) posted its quarterly earnings data on Friday. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05, Zacks reports. Ponce Financial Group had a net margin of 9.59% and a return on equity of 6.09%. The firm had revenue of $26.74 million during the quarter.

Ponce Financial Group Price Performance

Shares of PDLB stock opened at $14.62 on Friday. Ponce Financial Group has a 12-month low of $10.88 and a 12-month high of $15.21. The firm has a market capitalization of $350.88 million, a price-to-earnings ratio of 16.43 and a beta of 0.82. The company has a quick ratio of 1.27, a current ratio of 1.28 and a debt-to-equity ratio of 1.81. The firm has a fifty day moving average of $14.67 and a 200-day moving average of $13.83.

Analyst Ratings Changes

Several analysts have commented on PDLB shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ponce Financial Group in a research report on Saturday. Zacks Research cut shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Ponce Financial Group currently has an average rating of “Hold”.

Hedge Funds Weigh In On Ponce Financial Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP grew its holdings in shares of Ponce Financial Group by 6.3% in the 2nd quarter. First Trust Advisors LP now owns 15,335 shares of the company’s stock valued at $212,000 after buying an additional 912 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Ponce Financial Group by 46.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock valued at $49,000 after buying an additional 1,114 shares during the period. American Century Companies Inc. grew its holdings in shares of Ponce Financial Group by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock valued at $254,000 after buying an additional 4,008 shares during the period. Rhumbline Advisers grew its holdings in shares of Ponce Financial Group by 31.0% in the 2nd quarter. Rhumbline Advisers now owns 26,348 shares of the company’s stock valued at $365,000 after buying an additional 6,231 shares during the period. Finally, Invesco Ltd. acquired a new position in shares of Ponce Financial Group in the 2nd quarter valued at $169,000. Institutional investors and hedge funds own 64.35% of the company’s stock.

Ponce Financial Group Company Profile

Ponce Financial Group, Inc operates as the bank holding company for Ponce Bank that provides various banking products and services. It offers various deposit products, including demand accounts, NOW/IOLA, money market, reciprocal deposits, savings accounts, and certificates of deposit to individuals, business entities, and non-profit organizations, as well as individual retirement accounts.