Ponce Financial Group, Inc. (NASDAQ:PDLB) Short Interest Down 23.0% in November

Ponce Financial Group, Inc. (NASDAQ:PDLB) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 73,300 shares, a drop of 23.0% from the November 15th total of 95,200 shares. Based on an average daily trading volume, of 48,900 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Investors Weigh In On Ponce Financial Group

Large investors have recently modified their holdings of the stock. Barclays PLC grew its stake in shares of Ponce Financial Group by 267.8% in the third quarter. Barclays PLC now owns 25,370 shares of the company’s stock valued at $297,000 after buying an additional 18,472 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ponce Financial Group in the third quarter valued at about $514,000. Bank of New York Mellon Corp boosted its holdings in 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 valued at $566,000 after purchasing an additional 7,537 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Ponce Financial Group by 20.0% in the third quarter. Los Angeles Capital Management LLC now owns 56,194 shares of the company’s stock valued at $657,000 after purchasing an additional 9,369 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Ponce Financial Group by 6.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,621 shares of the company’s stock valued at $674,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 64.35% of the company’s stock.

Ponce Financial Group Stock Up 0.8 %

Shares of PDLB stock traded up $0.10 during trading hours on Monday, reaching $13.26. The company had a trading volume of 23,435 shares, compared to its average volume of 45,268. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.26 and a current ratio of 1.26. Ponce Financial Group has a twelve month low of $7.89 and a twelve month high of $13.43. The company has a market capitalization of $315.99 million, a P/E ratio of 35.84 and a beta of 0.66. The stock’s fifty day simple moving average is $12.30 and its 200 day simple moving average is $10.90.

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.