Ponce Financial Group (NASDAQ:PDLB) Stock Price Up 0.5% - Here's Why

Ponce Financial Group, Inc. (NASDAQ:PDLB - Get Free Report) shares traded up 0.5% during trading on Wednesday . The stock traded as high as $11.65 and last traded at $11.48. 19,509 shares changed hands during mid-day 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 Down 2.0 %

The stock's fifty day moving average is $11.35 and its two-hundred day moving average 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. The firm has a market cap of $267.89 million, a P/E ratio of 45.40 and a beta of 0.62.

Ponce Financial Group (NASDAQ:PDLB - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.01 by $0.13. The business had revenue of $41.05 million during 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, research analysts anticipate that Ponce Financial Group, Inc. will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PDLB. Bank of New York Mellon Corp increased its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ponce Financial Group by 9.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 715,744 shares of the company's stock valued at $6,542,000 after acquiring an additional 64,452 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 7,349 shares in the last quarter. 64.35% of the stock is currently owned by institutional investors.

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.