Ponce Financial Group (NASDAQ:PDLB) Stock Price Up 0.5% – Should You Buy?

Ponce Financial Group, Inc. (NASDAQ:PDLB)’s share price was up 0.5% during trading on Wednesday . The stock traded as high as $11.65 and last traded at $11.48. Approximately 19,509 shares were traded during trading, a decline of 57% from the average daily volume of 45,360 shares. The stock had previously closed at $11.42.

Ponce Financial Group Trading Up 0.5 %

The stock has a fifty day moving average of $11.35 and a two-hundred day moving average of $9.93. The company has a market capitalization of $273.36 million, a PE ratio of 45.92 and a beta of 0.62. The company has a current ratio of 1.35, a quick ratio of 1.33 and a debt-to-equity ratio of 2.50.

Ponce Financial Group (NASDAQ:PDLB) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.01 by $0.13. The firm had revenue of $41.05 million for the quarter, compared to the consensus estimate of $19.80 million. Ponce Financial Group had a net margin of 5.52% and a return on equity of 3.26%. As a group, sell-side analysts anticipate that Ponce Financial Group, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Ponce Financial Group

Several institutional investors have recently added to or reduced their stakes in PDLB. Vanguard Group Inc. lifted its position in Ponce Financial Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,079,224 shares of the company’s stock valued at $9,605,000 after purchasing an additional 7,349 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ponce Financial Group by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 61,892 shares of the company’s stock worth $566,000 after buying an additional 7,537 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Ponce Financial Group by 9.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 715,744 shares of the company’s stock valued at $6,542,000 after buying an additional 64,452 shares during the last quarter. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

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.