Short Interest in Ponce Financial Group, Inc. (NASDAQ:PDLB) Rises By 19.9%

Ponce Financial Group, Inc. (NASDAQ:PDLB) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 365,363 shares, an increase of 19.9% from the March 15th total of 304,803 shares. Based on an average daily volume of 63,295 shares, the short-interest ratio is currently 5.8 days. Currently, 1.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Informed Momentum Co LLC acquired a new stake in shares of Ponce Financial Group in the 4th quarter valued at $1,169,000. Alliancebernstein L.P. increased its holdings in Ponce Financial Group by 38.3% in the third quarter. Alliancebernstein L.P. now owns 185,799 shares of the company’s stock valued at $2,731,000 after buying an additional 51,500 shares during the last quarter. Marshall Wace LLP increased its holdings in Ponce Financial Group by 72.3% in the fourth quarter. Marshall Wace LLP now owns 120,447 shares of the company’s stock valued at $1,969,000 after buying an additional 50,539 shares during the last quarter. Zacks Investment Management acquired a new stake in Ponce Financial Group in the fourth quarter valued at $661,000. Finally, Renaissance Technologies LLC lifted its holdings in Ponce Financial Group by 21.8% during the 4th quarter. Renaissance Technologies LLC now owns 220,247 shares of the company’s stock worth $3,601,000 after buying an additional 39,412 shares during the last quarter. Institutional investors and hedge funds own 64.35% of the company’s stock.

Ponce Financial Group Trading Up 2.5%

NASDAQ:PDLB traded up $0.44 during trading hours on Friday, reaching $17.95. 76,766 shares of the stock were exchanged, compared to its average volume of 54,946. Ponce Financial Group has a twelve month low of $10.88 and a twelve month high of $18.05. The business has a 50-day moving average of $16.73 and a two-hundred day moving average of $16.07. The company has a market capitalization of $433.67 million, a price-to-earnings ratio of 15.08 and a beta of 0.67. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.88.

Ponce Financial Group (NASDAQ:PDLB) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. The business had revenue of $31.41 million during the quarter. Ponce Financial Group had a return on equity of 9.52% and a net margin of 14.72%. On average, equities analysts predict that Ponce Financial Group will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PDLB. Wall Street Zen raised Ponce Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Zacks Research raised shares of Ponce Financial Group to a “hold” rating in a research report on Friday, February 6th. Finally, Weiss Ratings raised shares of Ponce Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy”.

About Ponce Financial Group

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.