Ponce Financial Group (NASDAQ:PDLB) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Ponce Financial Group (NASDAQ:PDLB) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

PDLB has been the subject of several other reports. New Street Research set a $24.00 target price on Ponce Financial Group in a report on Wednesday, May 20th. Weiss Ratings lowered Ponce Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Ponce Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $24.00.

Ponce Financial Group Stock Performance

Ponce Financial Group stock opened at $20.01 on Monday. The company has a 50 day moving average price of $19.31 and a 200-day moving average price of $17.70. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.33 and a current ratio of 1.33. Ponce Financial Group has a fifty-two week low of $13.71 and a fifty-two week high of $20.74. The company has a market capitalization of $484.04 million, a PE ratio of 15.39 and a beta of 0.68.

Ponce Financial Group (NASDAQ:PDLB) last announced its quarterly earnings results on Friday, April 24th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earnings per share for the current year.

Hedge Funds Weigh In On Ponce Financial Group

Institutional investors have recently bought and sold shares of the business. M3F Inc. raised its stake in Ponce Financial Group by 8.0% in the first quarter. M3F Inc. now owns 2,003,960 shares of the company’s stock worth $33,486,000 after buying an additional 147,979 shares in the last quarter. Vanguard Group Inc. boosted its position in Ponce Financial Group by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,113,564 shares of the company’s stock valued at $16,369,000 after acquiring an additional 10,221 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 acquiring 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% in the 1st quarter. Bank of America Corp DE now owns 504,558 shares of the company’s stock valued at $8,431,000 after acquiring an additional 1,658 shares during the period. Finally, Empirical Finance LLC raised its position in shares of Ponce Financial Group by 19.4% in the 1st quarter. Empirical Finance LLC now owns 247,389 shares of the company’s stock worth $4,134,000 after acquiring an additional 40,176 shares in the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.

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.