Ponce Financial Group (NASDAQ:PDLB) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Ponce Financial Group (NASDAQ:PDLB) from a hold rating to a buy rating in a report published on Saturday.

Several other research firms also recently issued reports on PDLB. Zacks Research downgraded shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Ponce Financial Group in a research report on Wednesday, October 8th. Finally, Janney Montgomery Scott raised shares of Ponce Financial Group to a “strong-buy” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Ponce Financial Group Price Performance

PDLB traded up $0.50 during trading on Friday, hitting $15.08. The company’s stock had a trading volume of 113,706 shares, compared to its average volume of 53,796. The firm has a market capitalization of $361.94 million, a price-to-earnings ratio of 16.94 and a beta of 0.84. Ponce Financial Group has a twelve month low of $10.88 and a twelve month high of $15.21. The business’s fifty day simple moving average is $14.62 and its 200 day simple moving average is $14.07. The company has a current ratio of 1.28, a quick ratio of 1.27 and a debt-to-equity ratio of 1.81.

Ponce Financial Group (NASDAQ:PDLB) last announced its earnings results on Friday, October 24th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Ponce Financial Group had a return on equity of 7.45% and a net margin of 11.46%.The firm had revenue of $26.74 million for the quarter. On average, equities research analysts forecast that Ponce Financial Group will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Operose Advisors LLC acquired a new stake in Ponce Financial Group during the first quarter worth about $152,000. PDT Partners LLC grew its stake in shares of Ponce Financial Group by 8.0% in the 1st quarter. PDT Partners LLC now owns 11,081 shares of the company’s stock valued at $140,000 after buying an additional 820 shares during the period. Jane Street Group LLC acquired a new stake in shares of Ponce Financial Group during the 1st quarter worth approximately $277,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Ponce Financial Group during the 2nd quarter worth approximately $147,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Ponce Financial Group by 47.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 59,474 shares of the company’s stock valued at $823,000 after buying an additional 19,230 shares during the period. Institutional investors and hedge funds own 64.35% of the company’s stock.

Ponce Financial Group Company Profile

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.