Ponce Financial Group (NASDAQ:PDLB) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Ponce Financial Group (NASDAQ:PDLB) issued its quarterly earnings data on Monday. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02), FiscalAI reports. The business had revenue of $31.59 million during the quarter, compared to analyst estimates of $30.90 million. Ponce Financial Group had a net margin of 15.74% and a return on equity of 10.09%.

Ponce Financial Group Stock Performance

NASDAQ PDLB opened at $20.03 on Tuesday. The stock has a fifty day simple moving average of $19.46 and a 200-day simple moving average of $17.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.75. The stock has a market cap of $484.49 million, a PE ratio of 15.41 and a beta of 0.68. Ponce Financial Group has a twelve month low of $13.71 and a twelve month high of $20.74.

Analyst Upgrades and Downgrades

PDLB has been the topic of several research analyst reports. New Street Research set a $24.00 target price on shares of Ponce Financial Group in a research report on Wednesday, May 20th. Zacks Research lowered shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings cut Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Finally, Wall Street Zen cut Ponce Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $24.00.

Institutional Trading of Ponce Financial Group

Several institutional investors have recently added to or reduced their stakes in PDLB. Rhumbline Advisers raised 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. Marshall Wace LLP purchased a new position in Ponce Financial Group during the 2nd quarter valued at about $331,000. JPMorgan Chase & Co. grew its position in Ponce Financial Group by 55.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,981 shares of the company’s stock valued at $308,000 after acquiring an additional 7,516 shares in the last quarter. Jane Street Group LLC acquired a new position in Ponce Financial Group in the 1st quarter valued at about $277,000. Finally, American Century Companies Inc. increased its stake in Ponce Financial Group by 27.9% during the second quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock worth $254,000 after purchasing an additional 4,008 shares during the period. Institutional investors and hedge funds own 64.35% of the company’s stock.

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.