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

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

A number of other equities analysts have also weighed in on the company. Weiss Ratings upgraded Ponce Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Zacks Research upgraded Ponce Financial Group to a “hold” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Ponce Financial Group Stock Performance

NASDAQ PDLB opened at $16.25 on Friday. The stock has a market cap of $390 million, a PE ratio of 13.66 and a beta of 0.72. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.28 and a current ratio of 1.29. The firm has a 50-day moving average of $16.56 and a 200-day moving average of $15.59. Ponce Financial Group has a 52-week low of $10.88 and a 52-week high of $18.01.

Ponce Financial Group (NASDAQ:PDLB) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.14. Ponce Financial Group had a net margin of 14.72% and a return on equity of 9.68%. The firm had revenue of $31.41 million for the quarter. On average, sell-side analysts anticipate that Ponce Financial Group will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Ponce Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PDLB. Jane Street Group LLC acquired a new stake in shares of Ponce Financial Group during the 1st quarter worth $277,000. Cornerstone Investment Partners LLC acquired a new position in Ponce Financial Group in the second quarter valued at about $147,000. Los Angeles Capital Management LLC lifted its position in Ponce Financial Group by 47.8% during the second quarter. Los Angeles Capital Management LLC now owns 59,474 shares of the company’s stock worth $823,000 after purchasing an additional 19,230 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Ponce Financial Group by 40.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,115 shares of the company’s stock worth $1,026,000 after buying an additional 21,218 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Ponce Financial Group by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 480,257 shares of the company’s stock valued at $6,649,000 after buying an additional 9,011 shares during the period. 64.35% of the stock is owned by institutional investors and hedge funds.

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.