Ponce Financial Group, Inc. (NASDAQ:PDLB – Get Free Report) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 125,100 shares, a drop of 16.9% from the March 31st total of 150,600 shares. Based on an average daily trading volume, of 36,700 shares, the days-to-cover ratio is currently 3.4 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of Ponce Financial Group in the fourth quarter valued at $106,000. Brandywine Global Investment Management LLC bought a new stake in Ponce Financial Group in the third quarter worth $89,000. Los Angeles Capital Management LLC bought a new stake in Ponce Financial Group in the fourth quarter worth $195,000. Finally, Wittenberg Investment Management Inc. lifted its position in Ponce Financial Group by 18.7% in the third quarter. Wittenberg Investment Management Inc. now owns 105,317 shares of the company’s stock worth $824,000 after buying an additional 16,600 shares during the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.
Ponce Financial Group Trading Down 1.0 %
Shares of PDLB opened at $8.15 on Friday. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.36 and a quick ratio of 1.35. Ponce Financial Group has a 1 year low of $6.51 and a 1 year high of $10.19. The company has a 50 day simple moving average of $8.59 and a two-hundred day simple moving average of $8.78. The firm has a market cap of $193.89 million, a P/E ratio of 54.33 and a beta of 0.55.
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.
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