Ponce Financial Group (NASDAQ:PDLB) Downgraded by Wall Street Zen to “Hold”

Ponce Financial Group (NASDAQ:PDLB) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other equities research analysts also recently weighed in on the company. Janney Montgomery Scott upgraded Ponce Financial Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ponce Financial Group in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Ponce Financial Group Price Performance

PDLB opened at $15.92 on Friday. Ponce Financial Group has a one year low of $10.88 and a one year high of $16.08. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.29 and a quick ratio of 1.28. The company’s 50 day simple moving average is $14.83 and its 200-day simple moving average is $14.33. The stock has a market capitalization of $381.96 million, a P/E ratio of 17.88 and a beta of 0.84.

Ponce Financial Group (NASDAQ:PDLB) last posted its quarterly earnings data on Friday, October 24th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Ponce Financial Group had a net margin of 11.46% and a return on equity of 7.35%. The firm had revenue of $26.74 million during the quarter. Sell-side analysts anticipate that Ponce Financial Group will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Ponce Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC boosted its stake in Ponce Financial Group by 47.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 59,474 shares of the company’s stock worth $823,000 after acquiring an additional 19,230 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Ponce Financial Group by 40.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,115 shares of the company’s stock valued at $1,026,000 after purchasing an additional 21,218 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new stake in Ponce Financial Group in the second quarter worth $147,000. Empirical Finance LLC bought a new position in shares of Ponce Financial Group during the second quarter worth $3,248,000. Finally, PDT Partners LLC boosted its position in shares of Ponce Financial Group by 8.0% during the first quarter. PDT Partners LLC now owns 11,081 shares of the company’s stock worth $140,000 after purchasing an additional 820 shares in the last quarter. 64.35% of the stock is owned by institutional investors.

About Ponce Financial Group

Ponce Financial Group, Inc operates as the bank holding company for Ponce Bank that provides various banking products and services. It offers various deposit products, including demand accounts, NOW/IOLA, money market, reciprocal deposits, savings accounts, and certificates of deposit to individuals, business entities, and non-profit organizations, as well as individual retirement accounts.