Third Quarter 2022 Earnings Estimate for Prudential Bancorp, Inc. (NASDAQ:PBIP) Released by Piper Sandler
Prudential Bancorp, Inc. (NASDAQ:PBIP) – Investment analysts Piper Sandler lowered their third-quarter 2022 earnings estimates for shares of Prudential Bancorp in a note to investors Thursday, February 3. Piper Sandler analyst F. Schiraldi now expects the savings and loan company to post earnings per share of $0.20 for the quarter, down from its previous estimate of $0.21. Piper Sandler also released estimates for Prudential Bancorp Q4 2022 earnings at $0.19 EPS, FY2022 earnings at $0.82 EPS, Q1 2023 earnings at $0.20 EPS, Q2 2023 earnings at $0.20 EPS, Q3 2023 earnings at $0.21 EPS, Q4 2023 earnings at $0.23 EPS and fiscal year 2023 earnings at $0.83 EPS.
Separately, Zacks Investment Research upgraded shares of Prudential Bancorp from a “sell” rating to a “hold” rating in a Thursday, January 20 report.
Prudential Bancorp stock opened at $13.90 on Monday. The company has a market capitalization of $107.99 million, a price-earnings ratio of 14.18 and a beta of 0.02. Prudential Bancorp has a 52-week low of $12.56 and a 52-week high of $15.95. The company’s 50-day simple moving average is $13.89. Prudential Bancorp Inc (NASDAQ:PBIP) last released its results on Friday, January 28. The savings and loan company reported earnings per share (EPS) of $0.24 for the quarter, beating the Zacks consensus estimate of $0.22 by $0.02. The company posted revenue of $6.30 million for the quarter, versus analyst estimates of $6.77 million.
Several institutional investors and hedge funds have recently changed their positions in the company. Renaissance Technologies LLC increased its holdings of Prudential Bancorp shares by 0.6% in the second quarter. Renaissance Technologies LLC now owns 408,381 shares of the savings and loan company valued at $5,656,000 after purchasing an additional 2,400 shares last quarter. Advisor Group Holdings Inc. bought a new position in shares of Prudential Bancorp in Q3 worth $46,000. Geode Capital Management LLC increased its position in shares of 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 purchasing 3,001 additional shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Prudential Bancorp by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 215,712 shares of the savings and loan company valued at $2,988,000 after buying 3,143 additional shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Prudential Bancorp by 8,147.3% in the second quarter. Morgan Stanley now owns 4,536 shares of the savings and loan company valued at $64,000 after buying 4,481 additional shares in the last quarter. Institutional investors and hedge funds own 20.04% of the company’s shares.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 21. Shareholders of record on Tuesday, December 7 received a dividend of $0.07. The ex-dividend date was Monday, December 6. This represents a dividend of $0.28 on an annualized basis and a dividend yield of 2.01%. Prudential Bancorp’s payout ratio is 28.57%.
About Prudential Bancorp
Prudential Bancorp, Inc is a bank holding company for Prudential Savings Bank, which provides financial services. It accepts deposits from the public, generates loans and invests in securities. The company was founded in 2004 and is based in Philadelphia, PA.
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