Insider Buying: Ponce Financial Group, Inc. (NASDAQ:PDLB) CFO Purchases 10,000 Shares of Stock

Ponce Financial Group, Inc. (NASDAQ:PDLB – Get Rating) CFO Sergio Javier Vaccaro acquired 10,000 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were bought at an average cost of $9.24 per share, with a total value of $92,400.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $92,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of PDLB traded up $0.01 during mid-day trading on Tuesday, hitting $9.25. The company’s stock had a trading volume of 5,336 shares, compared to its average volume of 79,372. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $9.92 and a 200 day simple moving average of $11.81. The firm has a market capitalization of $228.66 million, a P/E ratio of 8.78 and a beta of 0.52. Ponce Financial Group, Inc. has a 1-year low of $9.10 and a 1-year high of $11.25.

Ponce Financial Group (NASDAQ:PDLB – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.35). The business had revenue of $19.56 million during the quarter, compared to analyst estimates of $19.00 million. Ponce Financial Group had a net margin of 15.54% and a return on equity of 7.74%. As a group, sell-side analysts predict that Ponce Financial Group, Inc. will post 0.21 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Ponce Financial Group by 240.4% in the 2nd quarter. Royal Bank of Canada now owns 2,080 shares of the company’s stock valued at $28,000 after purchasing an additional 1,469 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in Ponce Financial Group in the 1st quarter valued at approximately $115,000. Goldman Sachs Group Inc. increased its stake in Ponce Financial Group by 26.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,884 shares of the company’s stock valued at $154,000 after purchasing an additional 3,158 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Ponce Financial Group by 88,172.2% in the 1st quarter. JPMorgan Chase & Co. now owns 15,889 shares of the company’s stock valued at $165,000 after purchasing an additional 15,871 shares in the last quarter. Finally, Eidelman Virant Capital purchased a new position in Ponce Financial Group in the 1st quarter valued at approximately $197,000. 29.24% of the stock is owned by hedge funds and other institutional investors.

PDLB has been the subject of several recent analyst reports. Zacks Investment Research cut Ponce Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 17th. Janney Montgomery Scott initiated coverage on Ponce Financial Group in a report on Thursday, February 24th. They issued a “buy” rating and a $12.25 price target for the company.

About Ponce Financial Group (Get Rating)

Ponce Financial Group, Inc, a bank holding company for Ponce Bank that provides various banking products and services. It accepts various deposit products, including demand accounts, NOW/IOLA accounts, money market accounts, reciprocal deposits, savings accounts, and certificates of deposit. The company also provides one-to-four family investor-owned, one-to-four family owner-occupied, multifamily and nonresidential, construction and land, commercial and industrial, and consumer loans; lines of credit; and paycheck protection program.

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