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

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

Ponce Financial Group Stock Down 1.5 %

The company has a current ratio of 1.35, a quick ratio of 1.33 and a debt-to-equity ratio of 2.50. The stock’s fifty day simple moving average is $10.08 and its 200-day simple moving average is $9.20. The stock has a market capitalization of $258.10 million, a PE ratio of 43.36 and a beta of 0.62.

Ponce Financial Group (NASDAQ:PDLB) last issued its quarterly 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. Ponce Financial Group had a return on equity of 3.26% and a net margin of 5.52%. The business had revenue of $41.05 million for the quarter, compared to analyst estimates of $19.80 million. As a group, sell-side analysts forecast that Ponce Financial Group, Inc. will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in Ponce Financial Group during the fourth quarter valued at about $195,000. Vanguard Group Inc. boosted its stake 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 worth $9,605,000 after buying an additional 7,349 shares in the last quarter. Bank of New York Mellon Corp grew its position in Ponce Financial Group by 13.9% during the second quarter. Bank of New York Mellon Corp now owns 61,892 shares of the company’s stock valued at $566,000 after acquiring an additional 7,537 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ponce Financial Group by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 715,744 shares of the company’s stock worth $6,542,000 after acquiring an additional 64,452 shares in the last quarter. 64.35% of the stock is owned by institutional investors.

About Ponce Financial Group

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.