Ponce Financial Group (NASDAQ:PDLB) Raised to “Strong-Buy” at Zacks Research

Ponce Financial Group (NASDAQ:PDLB) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on PDLB. Wall Street Zen raised shares of Ponce Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday. Janney Montgomery Scott raised shares of Ponce Financial Group to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ponce Financial Group in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy”.

Ponce Financial Group Price Performance

Shares of NASDAQ PDLB traded up $0.50 on Thursday, hitting $15.08. The company’s stock had a trading volume of 113,706 shares, compared to its average volume of 53,796. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.28 and a quick ratio of 1.27. The stock has a 50 day moving average of $14.62 and a 200-day moving average of $14.06. Ponce Financial Group has a 12-month low of $10.88 and a 12-month high of $15.21. The company has a market capitalization of $361.92 million, a price-to-earnings ratio of 16.94 and a beta of 0.84.

Ponce Financial Group (NASDAQ:PDLB) last posted its earnings results on Friday, October 24th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $26.74 million for the quarter. Ponce Financial Group had a return on equity of 7.45% and a net margin of 11.46%. As a group, research analysts predict that Ponce Financial Group will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Operose Advisors LLC acquired a new stake in shares of Ponce Financial Group during the 1st quarter valued at approximately $152,000. PDT Partners LLC raised its holdings in shares of Ponce Financial Group by 8.0% during the first quarter. PDT Partners LLC now owns 11,081 shares of the company’s stock worth $140,000 after purchasing an additional 820 shares during the period. Jane Street Group LLC bought a new position in shares of Ponce Financial Group in the 1st quarter worth about $277,000. Cornerstone Investment Partners LLC acquired a new position in shares of Ponce Financial Group in the 2nd quarter valued at about $147,000. Finally, Los Angeles Capital Management LLC boosted its position in Ponce Financial Group by 47.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 59,474 shares of the company’s stock valued at $823,000 after purchasing an additional 19,230 shares during the period. 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.