Cornerstone Investment Partners LLC Acquires New Holdings in Ponce Financial Group, Inc. $PDLB

Cornerstone Investment Partners LLC bought a new position in shares of Ponce Financial Group, Inc. (NASDAQ:PDLB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,586 shares of the company’s stock, valued at approximately $147,000.

Several other large investors have also recently bought and sold shares of the company. Jane Street Group LLC bought a new position in shares of Ponce Financial Group in the first quarter worth $277,000. PDT Partners LLC boosted its stake in Ponce Financial Group by 8.0% during the first quarter. PDT Partners LLC now owns 11,081 shares of the company’s stock valued at $140,000 after buying an additional 820 shares during the period. Finally, Operose Advisors LLC purchased a new position in Ponce Financial Group during the first quarter worth about $152,000. 64.35% of the stock is owned by institutional investors.

Ponce Financial Group Price Performance

Shares of Ponce Financial Group stock opened at $14.58 on Friday. The firm has a market capitalization of $349.92 million, a PE ratio of 16.38 and a beta of 0.84. The company has a current ratio of 1.28, a quick ratio of 1.27 and a debt-to-equity ratio of 1.81. Ponce Financial Group, Inc. has a 12 month low of $10.88 and a 12 month high of $15.21. The business’s 50-day moving average price is $14.62 and its 200-day moving average price is $14.03.

Ponce Financial Group (NASDAQ:PDLB) last issued its earnings results on Friday, October 24th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. Ponce Financial Group had a return on equity of 7.45% and a net margin of 11.46%.The business had revenue of $26.74 million during the quarter. Sell-side analysts forecast that Ponce Financial Group, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on PDLB. Janney Montgomery Scott raised Ponce Financial Group to a “strong-buy” rating in a report on Wednesday, October 22nd. 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. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ponce Financial Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

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.