Ponce Financial Group, Inc. (NASDAQ:PDLB) Sees Significant Growth in Short Interest
by Teresa Graham · The Cerbat GemPonce Financial Group, Inc. (NASDAQ:PDLB – Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 365,363 shares, a growth of 19.9% from the March 15th total of 304,803 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average trading volume of 63,295 shares, the short-interest ratio is currently 5.8 days.
Analyst Ratings Changes
A number of brokerages have recently commented on PDLB. Weiss Ratings raised shares of Ponce Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Zacks Research raised shares of Ponce Financial Group to a “hold” rating in a research report on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Ponce Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Ponce Financial Group currently has an average rating of “Buy”.
Get Our Latest Stock Analysis on PDLB
Ponce Financial Group Stock Performance
Shares of PDLB traded up $0.44 during mid-day trading on Friday, hitting $17.95. 76,766 shares of the company traded hands, compared to its average volume of 54,946. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50-day moving average price of $16.73 and a two-hundred day moving average price of $16.07. Ponce Financial Group has a 1 year low of $10.88 and a 1 year high of $18.05. The stock has a market cap of $433.67 million, a price-to-earnings ratio of 14.71 and a beta of 0.67.
Ponce Financial Group (NASDAQ:PDLB – Get Free Report) last announced its earnings results on Tuesday, January 27th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.14. The company had revenue of $31.41 million during the quarter. Ponce Financial Group had a net margin of 14.72% and a return on equity of 9.52%. Equities analysts anticipate that Ponce Financial Group will post 0.39 earnings per share for the current year.
Institutional Trading of Ponce Financial Group
Several hedge funds have recently bought and sold shares of the stock. Informed Momentum Co LLC purchased a new stake in Ponce Financial Group during the fourth quarter valued at $1,169,000. Alliancebernstein L.P. grew its holdings in Ponce Financial Group by 38.3% during the 3rd quarter. Alliancebernstein L.P. now owns 185,799 shares of the company’s stock worth $2,731,000 after acquiring an additional 51,500 shares in the last quarter. Marshall Wace LLP grew its holdings in Ponce Financial Group by 72.3% during the 4th quarter. Marshall Wace LLP now owns 120,447 shares of the company’s stock worth $1,969,000 after acquiring an additional 50,539 shares in the last quarter. Zacks Investment Management bought a new stake in shares of Ponce Financial Group in the 4th quarter valued at about $661,000. Finally, Renaissance Technologies LLC raised its position in shares of Ponce Financial Group by 21.8% in the 4th quarter. Renaissance Technologies LLC now owns 220,247 shares of the company’s stock valued at $3,601,000 after purchasing an additional 39,412 shares during the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.
About Ponce Financial Group
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.