Raymond James Financial Inc. Buys Shares of 31,912 Ponce Financial Group, Inc. (NASDAQ:PDLB)

Raymond James Financial Inc. purchased a new position in shares of Ponce Financial Group, Inc. (NASDAQ:PDLB) in the fourth quarter, HoldingsChannel reports. The fund purchased 31,912 shares of the company’s stock, valued at approximately $415,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC boosted its position in Ponce Financial Group by 1.7% during the fourth quarter. Renaissance Technologies LLC now owns 160,435 shares of the company’s stock worth $2,086,000 after acquiring an additional 2,700 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Ponce Financial Group by 11.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,351 shares of the company’s stock worth $161,000 after purchasing an additional 1,298 shares during the period. Rangeley Capital LLC acquired a new stake in shares of Ponce Financial Group during the fourth quarter worth $598,000. Trexquant Investment LP grew its position in shares of Ponce Financial Group by 82.4% in the fourth quarter. Trexquant Investment LP now owns 19,272 shares of the company’s stock valued at $251,000 after purchasing an additional 8,707 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Ponce Financial Group by 107.5% in the fourth quarter. JPMorgan Chase & Co. now owns 66,647 shares of the company’s stock valued at $866,000 after purchasing an additional 34,534 shares during the period. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

Ponce Financial Group Stock Performance

NASDAQ PDLB opened at $13.55 on Friday. The business’s 50-day moving average price is $12.36 and its 200 day moving average price is $12.70. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.08. Ponce Financial Group, Inc. has a twelve month low of $8.61 and a twelve month high of $13.97. The company has a market capitalization of $325.00 million, a PE ratio of 28.83 and a beta of 0.65.

Ponce Financial Group (NASDAQ:PDLB) last released its earnings results on Friday, April 25th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.16. The business had revenue of $24.58 million for the quarter, compared to analysts’ expectations of $23.40 million. Ponce Financial Group had a net margin of 6.46% and a return on equity of 4.01%. On average, research analysts predict that Ponce Financial Group, Inc. will post 0.39 earnings per share for the current year.

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.