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, 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.

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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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