Ponce Financial Group (NASDAQ:PDLB) Cut to Hold at Wall Street Zen

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

Several other research firms also recently issued reports on PDLB. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ponce Financial Group in a research note on Wednesday, October 8th. Zacks Research raised shares of Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Janney Montgomery Scott upgraded shares of Ponce Financial Group to a “strong-buy” rating in a research report 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Ponce Financial Group Price Performance

Shares of NASDAQ:PDLB opened at $16.91 on Friday. Ponce Financial Group has a one year low of $10.88 and a one year high of $16.99. 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 has a market cap of $405.84 million, a price-to-earnings ratio of 19.00 and a beta of 0.73. The firm has a 50 day simple moving average of $15.09 and a 200 day simple moving average of $14.51.

Ponce Financial Group (NASDAQ:PDLB) last announced its quarterly earnings results on Friday, October 24th. The company reported $0.27 earnings per share (EPS) 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 company had revenue of $26.74 million during the quarter. Research analysts predict that Ponce Financial Group will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. PDT Partners LLC raised its stake in shares of Ponce Financial Group by 8.0% during the 1st quarter. PDT Partners LLC now owns 11,081 shares of the company’s stock valued at $140,000 after purchasing an additional 820 shares during the period. First Trust Advisors LP boosted its stake in shares of Ponce Financial Group by 6.3% in the 2nd quarter. First Trust Advisors LP now owns 15,335 shares of the company’s stock valued at $212,000 after purchasing an additional 912 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Ponce Financial Group by 46.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,510 shares of the company’s stock worth $49,000 after buying an additional 1,114 shares during the period. Millennium Management LLC boosted its stake in shares of Ponce Financial Group by 3.2% during the third quarter. Millennium Management LLC now owns 53,069 shares of the company’s stock valued at $780,000 after purchasing an additional 1,650 shares during the period. Finally, Russell Investments Group Ltd. increased its position 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 acquiring an additional 1,980 shares during the period. Hedge funds and other institutional investors own 64.35% of the company’s stock.

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.