Ponce Financial Group (NASDAQ:PDLB) Raised 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 note issued to investors on Thursday,Zacks.com reports.

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

Ponce Financial Group Trading Up 3.4%

Shares of Ponce Financial Group stock opened at $15.08 on Thursday. Ponce Financial Group has a 1 year low of $10.88 and a 1 year 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. The business has a fifty day simple moving average of $14.62 and a two-hundred day simple moving average of $14.06. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.28 and a quick ratio of 1.27.

Ponce Financial Group (NASDAQ:PDLB) last announced its earnings results on Friday, October 24th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $26.74 million during the quarter. Ponce Financial Group had a net margin of 11.46% and a return on equity of 7.45%. Research analysts forecast that Ponce Financial Group will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Ponce Financial Group

A number of institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in Ponce Financial Group by 46.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock valued at $49,000 after acquiring an additional 1,114 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new stake in Ponce Financial Group during the second quarter worth approximately $147,000. PDT Partners LLC grew its stake in 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. Panagora Asset Management Inc. acquired a new stake in shares of Ponce Financial Group during the 2nd quarter worth approximately $156,000. Finally, Operose Advisors LLC bought a new stake in shares of Ponce Financial Group in the 1st quarter valued at $152,000. 64.35% of the stock is owned by institutional investors.

About Ponce Financial Group

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.