Ponce Financial Group (NASDAQ:PDLB) Upgraded to Buy at Wall Street Zen

Ponce Financial Group (NASDAQ:PDLB) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other analysts have also issued reports about the company. Zacks Research raised Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Ponce Financial Group in a report on Wednesday, October 8th. Finally, Janney Montgomery Scott raised shares of Ponce Financial Group to a “strong-buy” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Ponce Financial Group Stock Down 0.9%

Shares of NASDAQ PDLB opened at $15.72 on Friday. The firm has a market cap of $377.28 million, a price-to-earnings ratio of 17.66 and a beta of 0.73. The company’s 50-day simple moving average is $14.91 and its 200-day simple moving average is $14.40. The company has a quick ratio of 1.28, a current ratio of 1.29 and a debt-to-equity ratio of 1.71. Ponce Financial Group has a 52-week low of $10.88 and a 52-week high of $16.09.

Ponce Financial Group (NASDAQ:PDLB) last issued its quarterly earnings results on Friday, October 24th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter. Equities analysts predict that Ponce Financial Group will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Ponce Financial Group by 275.8% in the third quarter. Russell Investments Group Ltd. now owns 2,698 shares of the company’s stock valued at $40,000 after purchasing an additional 1,980 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Ponce Financial Group by 46.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock valued at $49,000 after buying an additional 1,114 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Ponce Financial Group by 104.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,928 shares of the company’s stock worth $58,000 after buying an additional 2,007 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of Ponce Financial Group during the 2nd quarter valued at approximately $147,000. Finally, PDT Partners LLC lifted its holdings in Ponce Financial Group by 8.0% in the first quarter. PDT Partners LLC now owns 11,081 shares of the company’s stock valued at $140,000 after acquiring an additional 820 shares during the last quarter. Institutional investors and hedge funds own 64.35% of the company’s stock.

Ponce Financial Group Company Profile

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.