Ponce Financial Group (NASDAQ:PDLB) Reaches New 1-Year High – Here’s Why

Ponce Financial Group, Inc. (NASDAQ:PDLB) hit a new 52-week high during mid-day trading on Monday. The company traded as high as $22.93 and last traded at $22.88, with a volume of 34,516 shares. The stock had previously closed at $22.49.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PDLB shares. Weiss Ratings upgraded shares of Ponce Financial Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 23rd. Zacks Research lowered Ponce Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $24.00.

Ponce Financial Group Trading Down 0.6%

The firm has a market cap of $539.80 million, a price-to-earnings ratio of 11.94 and a beta of 0.69. The company’s 50-day moving average price is $20.53 and its 200-day moving average price is $18.77. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.85.

Ponce Financial Group (NASDAQ:PDLB) last released its quarterly earnings results on Monday, October 26th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.24. The firm had revenue of $34.84 million during the quarter, compared to the consensus estimate of $31.80 million. Ponce Financial Group had a net margin of 21.21% and a return on equity of 13.94%. Equities analysts expect that Ponce Financial Group, Inc. will post 1.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Ponce Financial Group

A number of institutional investors have recently bought and sold shares of PDLB. Dimensional Fund Advisors LP grew its stake in shares of Ponce Financial Group by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 939,100 shares of the company’s stock valued at $15,692,000 after buying an additional 25,634 shares during the period. Bank of America Corp DE increased its holdings in shares of Ponce Financial Group by 0.3% during the 1st quarter. Bank of America Corp DE now owns 504,558 shares of the company’s stock worth $8,431,000 after buying an additional 1,658 shares during the last quarter. Empirical Finance LLC raised its position in shares of Ponce Financial Group by 19.4% during the 1st quarter. Empirical Finance LLC now owns 247,389 shares of the company’s stock valued at $4,134,000 after buying an additional 40,176 shares during the period. Renaissance Technologies LLC raised its position in shares of Ponce Financial Group by 9.9% during the 1st quarter. Renaissance Technologies LLC now owns 242,135 shares of the company’s stock valued at $4,046,000 after buying an additional 21,888 shares during the period. Finally, Sei Investments Co. raised its position in shares of Ponce Financial Group by 2.2% during the 1st quarter. Sei Investments Co. now owns 50,457 shares of the company’s stock valued at $843,000 after buying an additional 1,067 shares during the period. 64.35% of the stock is owned by hedge funds and other institutional investors.

Ponce Financial Group Company Profile

Ponce Financial Group, Inc is the holding company for Ponce Bank, a community-focused savings bank headquartered in the Bronx, New York. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and nonprofit organizations in the New York metropolitan area.

Ponce Bank’s primary offerings include deposit accounts, residential and commercial real estate lending, multifamily and construction loans, commercial and industrial financing, consumer loans and other traditional banking services.