Prudential Bancorp Inc (NASDAQ:PBIP) Sees Significant Growth in Short Interest

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Prudential Bancorp Inc (NASDAQ:PBIP) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 62,400 shares, a growth of 39.0% from the May 30th total of 44,900 shares. Based on an average daily volume of 9,000 shares, the days-to-cover ratio is currently 6.9 days. Currently, 0.8% of the company’s stock are sold short.

PBIP traded down $0.22 on Friday, hitting $18.28. 13,266 shares of the company were exchanged, compared to its average volume of 9,961. Prudential Bancorp has a twelve month low of $13.92 and a twelve month high of $19.80. The stock has a market capitalization of $163.06 million, a P/E ratio of 18.32 and a beta of -0.01. The business has a 50-day moving average price of $17.72.

Prudential Bancorp (NASDAQ:PBIP) last released its earnings results on Friday, April 19th. The savings and loans company reported $0.26 EPS for the quarter. Prudential Bancorp had a return on equity of 7.01% and a net margin of 21.85%. The firm had revenue of $6.87 million during the quarter.

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.20 annualized dividend and a yield of 1.09%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers purchased a new stake in Prudential Bancorp in the fourth quarter worth $214,000. BlackRock Inc. lifted its position in Prudential Bancorp by 3.4% during the fourth quarter. BlackRock Inc. now owns 448,649 shares of the savings and loans company’s stock valued at $7,896,000 after buying an additional 14,961 shares during the period. Dimensional Fund Advisors LP lifted its position in Prudential Bancorp by 8.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 209,597 shares of the savings and loans company’s stock valued at $3,689,000 after buying an additional 16,903 shares during the period. Geode Capital Management LLC lifted its position in Prudential Bancorp by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 155,669 shares of the savings and loans company’s stock valued at $2,739,000 after buying an additional 2,361 shares during the period. Finally, Bank of America Corp DE lifted its position in Prudential Bancorp by 30.7% during the fourth quarter. Bank of America Corp DE now owns 10,473 shares of the savings and loans company’s stock valued at $185,000 after buying an additional 2,462 shares during the period. 39.79% of the stock is owned by institutional investors.

Prudential Bancorp Company Profile

Prudential Bancorp, Inc operates as the bank holding company for Prudential Bank that provides various banking products or services. The company accepts interest-bearing and non-interest-bearing checking, money market, savings, and certificates of deposit accounts. Its loan portfolio comprises single-family residential mortgage loans, construction and land development loans, non-residential or commercial real estate mortgage loans, home equity loans and lines of credit, and commercial business loans, as well as consumer loans, such as loans secured by deposit accounts and unsecured personal loans.

See Also: Preferred Stock

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