Ponce Financial Group (NASDAQ:PDLB) Trading 0.5% Higher – What’s Next?

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

Ponce Financial Group Stock Up 1.5 %

The company has a market capitalization of $271.79 million, a price-to-earnings ratio of 30.41 and a beta of 0.62. The firm’s 50 day moving average price is $11.35 and its two-hundred day moving average price is $9.93. 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 announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.13. Ponce Financial Group had a net margin of 5.31% and a return on equity of 3.18%. The business had revenue of $41.05 million for the quarter, compared to analyst estimates of $19.80 million. Sell-side analysts anticipate that Ponce Financial Group, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PDLB. Bank of New York Mellon Corp grew its stake 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 valued at $566,000 after buying an additional 7,537 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 valued at $6,542,000 after buying an additional 64,452 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings 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 valued at $9,605,000 after purchasing an additional 7,349 shares during the period. Institutional investors and hedge funds 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.