Ponce Financial Group (NASDAQ:PDLB) Upgraded to Strong-Buy at Zacks Research

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

PDLB has been the topic of a number of other research reports. Weiss Ratings downgraded Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. New Street Research set a $24.00 target price on shares of Ponce Financial Group in a report on Wednesday, May 20th. Finally, Wall Street Zen cut shares of Ponce Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus target price of $24.00.

Ponce Financial Group Stock Up 1.5%

Ponce Financial Group stock opened at $18.84 on Monday. The business has a fifty day moving average of $17.41 and a two-hundred day moving average of $16.70. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.75. The firm has a market cap of $455.70 million, a P/E ratio of 14.49 and a beta of 0.67. Ponce Financial Group has a twelve month low of $12.81 and a twelve month high of $18.99.

Ponce Financial Group (NASDAQ:PDLB) last announced its quarterly earnings results on Friday, April 24th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $30.27 million for the quarter, compared to the consensus estimate of $26.70 million. Ponce Financial Group had a return on equity of 10.09% and a net margin of 15.74%. On average, analysts forecast that Ponce Financial Group will post 10.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. First Trust Advisors LP raised its stake in shares of Ponce Financial Group by 6.3% during the 2nd quarter. First Trust Advisors LP now owns 15,335 shares of the company’s stock worth $212,000 after acquiring an additional 912 shares in the last quarter. Sei Investments Co. boosted its holdings in Ponce Financial Group by 2.2% in the first quarter. Sei Investments Co. now owns 50,457 shares of the company’s stock worth $843,000 after acquiring an additional 1,067 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Ponce Financial Group by 46.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock worth $49,000 after acquiring an additional 1,114 shares in the last quarter. Millennium Management LLC boosted its holdings in Ponce Financial Group by 3.2% in the third quarter. Millennium Management LLC now owns 53,069 shares of the company’s stock worth $780,000 after acquiring an additional 1,650 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Ponce Financial Group by 0.3% in the first quarter. Bank of America Corp DE now owns 504,558 shares of the company’s stock worth $8,431,000 after acquiring an additional 1,658 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.

Ponce Financial Group Company Profile

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.