Short Interest in Ponce Financial Group, Inc. (NASDAQ:PDLB) Drops By 23.0%

Ponce Financial Group, Inc. (NASDAQ:PDLB) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 73,300 shares, a drop of 23.0% from the November 15th total of 95,200 shares. Based on an average daily volume of 48,900 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Investors Weigh In On Ponce Financial Group

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in 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 worth $566,000 after purchasing an additional 7,537 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Ponce Financial Group by 9.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 715,744 shares of the company’s stock worth $6,542,000 after buying an additional 64,452 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Ponce Financial Group by 20.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 56,194 shares of the company’s stock worth $657,000 after buying an additional 9,369 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ponce Financial Group in the 3rd quarter valued at $514,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ponce Financial Group by 6.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,621 shares of the company’s stock valued at $674,000 after buying an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 64.35% of the company’s stock.

Ponce Financial Group Stock Performance

Shares of PDLB traded up $0.10 on Monday, reaching $13.26. 23,435 shares of the stock traded hands, compared to its average volume of 45,268. The stock’s 50-day moving average price is $12.30 and its 200-day moving average price is $10.90. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $315.99 million, a price-to-earnings ratio of 35.84 and a beta of 0.66. Ponce Financial Group has a 12 month low of $7.89 and a 12 month high of $13.43.

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.