Ponce Financial Group, Inc. $PDLB Shares Sold by Empirical Finance LLC

Empirical Finance LLC trimmed its holdings in shares of Ponce Financial Group, Inc. (NASDAQ:PDLB) by 53.8% in the second quarter, Holdings Channel reports. The institutional investor owned 114,179 shares of the company’s stock after selling 133,210 shares during the period. Empirical Finance LLC’s holdings in Ponce Financial Group were worth $2,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PDLB. Jane Street Group LLC acquired a new stake in shares of Ponce Financial Group during the 1st quarter worth about $277,000. Franklin Resources Inc. acquired a new position in Ponce Financial Group in the second quarter valued at approximately $181,000. Rhumbline Advisers boosted its holdings in Ponce Financial Group by 31.0% in the second quarter. Rhumbline Advisers now owns 26,348 shares of the company’s stock valued at $365,000 after purchasing an additional 6,231 shares in the last quarter. American Century Companies Inc. increased its stake in Ponce Financial Group by 27.9% in the second quarter. American Century Companies Inc. now owns 18,378 shares of the company’s stock valued at $254,000 after purchasing an additional 4,008 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in Ponce Financial Group in the second quarter valued at approximately $169,000. 64.35% of the stock is owned by institutional investors and hedge funds.

Ponce Financial Group Stock Down 1.9%

Ponce Financial Group stock opened at $20.33 on Wednesday. The company has a market capitalization of $491.78 million, a P/E ratio of 14.52 and a beta of 0.68. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.34 and a current ratio of 1.34. Ponce Financial Group, Inc. has a fifty-two week low of $13.91 and a fifty-two week high of $21.10. The stock has a 50-day simple moving average of $20.26 and a 200-day simple moving average of $18.61.

Ponce Financial Group (NASDAQ:PDLB) last released its quarterly earnings results on Monday, July 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $31.59 million for the quarter, compared to analysts’ expectations of $30.90 million. Ponce Financial Group had a return on equity of 10.52% and a net margin of 16.51%. Equities research analysts expect that Ponce Financial Group, Inc. will post 10.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Zacks Research cut shares of Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings restated a “buy (b+)” rating on shares of Ponce Financial Group in a report on Friday, August 7th. Finally, New Street Research set a $24.00 target price on shares of Ponce Financial Group in a research report on Wednesday, May 20th. One research 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $24.00.

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.