Ponce Financial Group (NASDAQ:PDLB) Downgraded to Hold Rating by 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 report released on Friday.

PDLB has been the subject of several other research reports. Janney Montgomery Scott raised shares of Ponce Financial Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Zacks Research upgraded Ponce Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ponce Financial Group in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Ponce Financial Group Stock Down 2.8%

Shares of PDLB opened at $16.40 on Friday. The company’s 50-day simple moving average is $16.26 and its 200-day simple moving average is $15.14. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.28 and a current ratio of 1.29. Ponce Financial Group has a 1 year low of $10.88 and a 1 year high of $18.01. The stock has a market capitalization of $393.60 million, a PE ratio of 18.43 and a beta of 0.74.

Ponce Financial Group (NASDAQ:PDLB) last announced its quarterly earnings data 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 during the quarter. Analysts forecast that Ponce Financial Group will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ponce Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Empirical Finance LLC purchased a new position in Ponce Financial Group in the second quarter valued at approximately $3,248,000. Alliancebernstein L.P. boosted its holdings in shares of Ponce Financial Group by 38.3% in the 3rd quarter. Alliancebernstein L.P. now owns 185,799 shares of the company’s stock valued at $2,731,000 after buying an additional 51,500 shares in the last quarter. M3F Inc. boosted its holdings in shares of Ponce Financial Group by 2.2% in the 2nd quarter. M3F Inc. now owns 2,315,708 shares of the company’s stock valued at $32,049,000 after buying an additional 48,887 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Ponce Financial Group in the 2nd quarter valued at $536,000. Finally, Marshall Wace LLP acquired a new stake in Ponce Financial Group during the 2nd quarter worth $331,000. Institutional investors and hedge funds own 64.35% of the company’s stock.

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.