Ponce Financial Group (NASDAQ:PDLB) Shares Down 0.5%

Shares of Ponce Financial Group, Inc. (NASDAQ:PDLB) fell 0.5% during mid-day trading on Thursday . The stock traded as low as $11.01 and last traded at $11.01. 32,594 shares were traded during trading, a decline of 26% from the average session volume of 44,197 shares. The stock had previously closed at $11.06.

Ponce Financial Group Stock Performance

The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.33 and a current ratio of 1.35. The stock has a market capitalization of $258.10 million, a P/E ratio of 43.36 and a beta of 0.62. The business has a 50-day moving average price of $10.08 and a 200 day moving average price of $9.20.

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

Institutional Investors Weigh In On Ponce Financial Group

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Ponce Financial Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,079,224 shares of the company’s stock worth $9,605,000 after buying an additional 7,349 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Ponce Financial Group by 13.9% in the 2nd 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. Los Angeles Capital Management LLC purchased a new position in shares of Ponce Financial Group in the fourth quarter valued at about $195,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Ponce Financial Group by 9.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 715,744 shares of the company’s stock worth $6,542,000 after purchasing an additional 64,452 shares in the last quarter. Hedge funds and other institutional investors 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.