Zacks Investment Research Lowers Prudential Bancorp (NASDAQ:PBIP) to Sell

Zacks Investment Research lowered shares of Prudential Bancorp (NASDAQ:PBIP) from a hold rating to a sell rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Prudential Bancorp, Inc. of Pennsylvania is the mid-tier holding company for Prudential Savings Bank. Prudential Savings Bank is a Pennsylvania-chartered, FDIC-insured savings bank. “

PBIP opened at $13.82 on Wednesday. The stock’s 50 day simple moving average is $14.08 and its 200 day simple moving average is $14.25. Prudential Bancorp has a 1 year low of $11.50 and a 1 year high of $15.95. The firm has a market cap of $107.38 million, a price-to-earnings ratio of 14.25 and a beta of 0.02.

Prudential Bancorp (NASDAQ:PBIP) last posted its quarterly earnings results on Friday, November 12th. The savings and loans company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $7.19 million for the quarter, compared to the consensus estimate of $6.42 million. On average, equities research analysts anticipate that Prudential Bancorp will post 0.87 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 21st. Shareholders of record on Tuesday, December 7th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, December 6th. Prudential Bancorp’s dividend payout ratio (DPR) is currently 28.87%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBIP. Millennium Management LLC purchased a new stake in Prudential Bancorp in the 2nd quarter worth approximately $1,300,000. Ergoteles LLC purchased a new stake in Prudential Bancorp in the 2nd quarter worth approximately $386,000. M3F Inc. lifted its holdings in Prudential Bancorp by 20.7% in the 3rd quarter. M3F Inc. now owns 122,305 shares of the savings and loans company’s stock worth $1,866,000 after buying an additional 20,974 shares during the period. BlackRock Inc. lifted its holdings in Prudential Bancorp by 166.8% in the 3rd quarter. BlackRock Inc. now owns 25,576 shares of the savings and loans company’s stock worth $390,000 after buying an additional 15,990 shares during the period. Finally, Creative Planning purchased a new stake in Prudential Bancorp in the 3rd quarter worth approximately $153,000. Institutional investors and hedge funds own 20.04% of the company’s stock.

Prudential Bancorp Company Profile

Prudential Bancorp, Inc is a bank holding company for Prudential Savings Bank, which engages in the provision of financial services. It accepts deposits from public and generate loans and invests in securities. The company was founded in 2004 and is headquartered in Philadelphia, PA.

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