Prudential Bancorp, Inc. (NASDAQ:PBIP) Brief Interest Update
Prudential Bancorp, Inc. (NASDAQ:PBIP – Get Rating) benefited from significant growth in short-term interest rates in April. As of April 30, there were short interests totaling 47,800 shares, a growth of 23.2% from the total of 38,800 shares as of April 15. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 64,600 shares, the day-to-cover ratio is currently 0.7 days.
Separately, Zacks Investment Research upgraded shares of Prudential Bancorp from a “sell” rating to a “hold” rating in a Wednesday, April 6 report.
NASDAQ PBIP shares opened at $15.51 on Wednesday. The company has a fifty-day moving average price of $16.21 and a 200-day moving average price of $15.00. The stock has a market capitalization of $120.50 million, a PE ratio of -218.57 and a beta of 0.07. Prudential Bancorp has a 1-year low of $13.25 and a 1-year high of $17.43.
Hedge funds have recently increased or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Prudential Bancorp by 2.6% in the third quarter. Geode Capital Management LLC now owns 116,571 shares of the savings and loan company valued at $1,778,000 after buying 3,001 additional shares last quarter. Advisor Group Holdings Inc. bought a new position in Prudential Bancorp during the third quarter worth approximately $46,000. BlackRock Inc. increased its position in Prudential Bancorp by 166.8% during the third quarter. BlackRock Inc. now owns 25,576 shares of the savings and loan company worth $390,000 after purchasing an additional 15,990 shares in the last quarter. M3F inc. increased its equity stake in Prudential Bancorp by 20.7% during the third quarter. M3F inc. now owns 122,305 shares of the savings and loan company valued at $1,866,000 after acquiring 20,974 additional shares in the last quarter. Finally, Creative Planning acquired a new position in shares of Prudential Bancorp during the third quarter valued at approximately $153,000. Institutional investors and hedge funds hold 29.20% of the company’s shares.
About Prudential Bancorp (Get an evaluation)
Prudential Bancorp, Inc operates as a bank holding company for Prudential Bank which provides various banking products or services. The company accepts interest-bearing and non-interest-bearing checks, money market, savings, and certificates of deposit accounts. Its loan portfolio includes single-family residential mortgages, construction and land development loans, non-residential or commercial real estate mortgages, home equity loans and lines of credit, and commercial business loans. , as well as consumer loans, such as loans secured by deposit accounts and unsecured personal loans.
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