Prudential Bancorp Inc (NASDAQ:PBIP) Sees Significant Drop in Short Interest

Prudential Bancorp Inc (NASDAQ:PBIP) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 53,100 shares, a decrease of 15.3% from the August 31st total of 62,700 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 11,300 shares, the short-interest ratio is presently 4.7 days.

Separately, ValuEngine downgraded shares of Prudential Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd.

In other news, Director Raymond Vanaria acquired 5,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was purchased at an average price of $11.47 per share, for a total transaction of $57,350.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $57,350. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have purchased 6,275 shares of company stock worth $70,990. 6.20% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of PBIP. Nuveen Asset Management LLC raised its stake in Prudential Bancorp by 3.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 32,012 shares of the savings and loans company’s stock worth $385,000 after acquiring an additional 956 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Prudential Bancorp by 74.8% during the first quarter. Citigroup Inc. now owns 3,067 shares of the savings and loans company’s stock valued at $45,000 after acquiring an additional 1,312 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Prudential Bancorp by 0.4% in the first quarter. BlackRock Inc. now owns 456,076 shares of the savings and loans company’s stock worth $6,750,000 after buying an additional 1,644 shares in the last quarter. Rhumbline Advisers grew its holdings in Prudential Bancorp by 19.0% in the 1st quarter. Rhumbline Advisers now owns 15,628 shares of the savings and loans company’s stock valued at $231,000 after buying an additional 2,500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Prudential Bancorp by 11.7% during the 1st quarter. Bank of New York Mellon Corp now owns 35,676 shares of the savings and loans company’s stock worth $528,000 after buying an additional 3,726 shares during the last quarter. 37.33% of the stock is currently owned by institutional investors and hedge funds.

Shares of PBIP traded down $0.12 during mid-day trading on Thursday, hitting $10.42. 13,912 shares of the company traded hands, compared to its average volume of 16,946. The stock has a market cap of $85.87 million, a price-to-earnings ratio of 7.87 and a beta of -0.08. The stock has a 50-day moving average price of $10.49 and a two-hundred day moving average price of $11.58. Prudential Bancorp has a 1 year low of $9.53 and a 1 year high of $18.59.

Prudential Bancorp (NASDAQ:PBIP) last posted its earnings results on Monday, July 20th. The savings and loans company reported $0.44 earnings per share for the quarter. Prudential Bancorp had a net margin of 22.08% and a return on equity of 8.30%. The company had revenue of $9.07 million during the quarter.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were given a $0.07 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.28 annualized dividend and a dividend yield of 2.69%.

Prudential Bancorp Company Profile

Prudential Bancorp, Inc operates as the bank holding company for Prudential Bank that provides various banking products or services. The company accepts interest-bearing and non-interest-bearing checking, money market, savings, and certificates of deposit accounts. Its loan portfolio comprises single-family residential mortgage loans, construction and land development loans, non-residential or commercial real estate mortgage loans, 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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