Ponce Financial Group (NASDAQ:PDLB) Stock Rating Lowered by Zacks Research

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

Several other analysts also recently commented on PDLB. Wall Street Zen downgraded shares of Ponce Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Finally, New Street Research set a $24.00 target price on shares of Ponce Financial Group in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $24.00.

Ponce Financial Group Trading Up 0.8%

NASDAQ PDLB opened at $20.18 on Monday. Ponce Financial Group has a 12 month low of $13.71 and a 12 month high of $20.74. 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’s fifty day moving average price is $19.26 and its 200-day moving average price is $17.67. The stock has a market cap of $488.15 million, a P/E ratio of 15.52 and a beta of 0.68.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new position in shares of Ponce Financial Group during the first quarter valued at $277,000. Franklin Resources Inc. bought a new stake in Ponce Financial Group in the 2nd quarter worth about $181,000. Rhumbline Advisers increased its holdings in Ponce Financial Group by 31.0% in the 2nd quarter. Rhumbline Advisers now owns 26,348 shares of the company’s stock worth $365,000 after buying an additional 6,231 shares in the last quarter. American Century Companies Inc. raised its position in Ponce Financial Group by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock worth $254,000 after buying an additional 4,008 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in Ponce Financial Group in the 2nd quarter worth about $169,000. Hedge funds and other 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.