Prudential Bancorp (NASDAQ:PBIP) Stock Rating Updated by Zacks Investment Research

Prudential Bancorp (NASDAQ:PBIP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note released Thursday, Zacks.com reports.

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

NASDAQ:PBIP shares opened at $14.07 on Thursday. The company has a 50-day moving average of $14.03. The stock has a market capitalization of $109.31 million, a P/E ratio of 14.51 and a beta of 0.02. Prudential Bancorp has a fifty-two week low of $11.50 and a fifty-two week high of $15.95.

Prudential Bancorp Inc (NASDAQ:PBIP) last released its quarterly results on Friday, November 12. The savings and loan company reported earnings per share of $0.25 for the quarter, beating the Zacks consensus estimate of $0.20 by $0.05. The company posted revenue of $7.19 million in the quarter, compared to $6.42 million expected by analysts. As a group, analysts expect Prudential Bancorp to post EPS of 0.87 for the current fiscal year.

A number of hedge funds and other institutional investors have recently increased or reduced their stake in PBIP. Millennium Management LLC acquired a new stake in Prudential Bancorp during the second quarter worth approximately $1,300,000. Ergoteles LLC purchased a new stake in Prudential Bancorp during the second quarter worth approximately $386,000. M3F Inc. increased its 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 purchasing an additional 20,974 shares in the last quarter. BlackRock Inc. increased its stake in Prudential Bancorp by 166.8% during the third quarter. BlackRock Inc. now owns 25,576 shares of the savings and loan company valued at $390,000 after buying an additional 15,990 shares in the last quarter. Finally, Creative Planning purchased a new stake in Prudential Bancorp during the third quarter worth approximately $153,000. 20.04% of the shares are currently held by institutional investors and hedge funds.

(A d)

Growing demand for lithium is fueled by global demand for electric vehicles (EVs). Lithium is ideal for electric cars. It is light, stores a lot of energy and is rechargeable. Sales of electric vehicles are expected to increase tenfold by 2030 and it is estimated that one in two cars sold will be electric by 2040.

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.

Feature story: The cost of capital explained

Get a Free Copy of Zacks Research Report on Prudential Bancorp (PBIP)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Prudential Bancorp right now?

Before you consider Prudential Bancorp, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Prudential Bancorp was not on the list.

While Prudential Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here