Insider Buying: Ponce Financial Group, Inc. (NASDAQ:PDLB) CFO Acquires 10,000 Shares of Stock

Posted by on Jun 7th, 2022

Ponce Financial Group, Inc. (NASDAQ:PDLB – Get Rating) CFO Sergio Javier Vaccaro purchased 10,000 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were purchased at an average price of $9.24 per share, for a total transaction of $92,400.00. Following the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $92,400. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

NASDAQ PDLB traded up $0.01 on Tuesday, reaching $9.25. 5,336 shares of the company were exchanged, compared to its average volume of 79,372. The business’s fifty day moving average price is $9.92 and its 200 day moving average price is $11.81. The stock has a market capitalization of $228.66 million, a P/E ratio of 8.78 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.31. Ponce Financial Group, Inc. has a fifty-two week low of $9.10 and a fifty-two week high of $11.25.

Ponce Financial Group (NASDAQ:PDLB – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.35). Ponce Financial Group had a net margin of 15.54% and a return on equity of 7.74%. The business had revenue of $19.56 million during the quarter, compared to analyst estimates of $19.00 million. Equities research analysts forecast that Ponce Financial Group, Inc. will post 0.21 earnings per share for the current year.

Several brokerages have weighed in on PDLB. Janney Montgomery Scott began coverage on Ponce Financial Group in a report on Thursday, February 24th. They issued a “buy” rating and a $12.25 price target for the company. Zacks Investment Research cut Ponce Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 17th.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Ponce Financial Group by 197.9% in the 1st quarter. Vanguard Group Inc. now owns 956,834 shares of the company’s stock valued at $9,932,000 after purchasing an additional 635,629 shares during the period. Bank of America Corp DE boosted its position in shares of Ponce Financial Group by 38.5% in the 1st quarter. Bank of America Corp DE now owns 486,560 shares of the company’s stock valued at $5,050,000 after purchasing an additional 135,195 shares during the period. EJF Capital LLC boosted its position in shares of Ponce Financial Group by 769.8% in the 1st quarter. EJF Capital LLC now owns 416,832 shares of the company’s stock valued at $4,327,000 after purchasing an additional 368,911 shares during the period. BlackRock Inc. boosted its position in shares of Ponce Financial Group by 834.1% in the 1st quarter. BlackRock Inc. now owns 208,374 shares of the company’s stock valued at $2,162,000 after purchasing an additional 186,066 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Ponce Financial Group by 39.9% in the 1st quarter. Renaissance Technologies LLC now owns 197,455 shares of the company’s stock valued at $2,050,000 after purchasing an additional 56,343 shares during the period. Institutional investors own 29.24% of the company’s stock.

About Ponce Financial Group (Get Rating)

Ponce Financial Group, Inc, a bank holding company for Ponce Bank that provides various banking products and services. It accepts various deposit products, including demand accounts, NOW/IOLA accounts, money market accounts, reciprocal deposits, savings accounts, and certificates of deposit. The company also provides one-to-four family investor-owned, one-to-four family owner-occupied, multifamily and nonresidential, construction and land, commercial and industrial, and consumer loans; lines of credit; and paycheck protection program.

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