Prudential Bancorp Inc (NASDAQ:PBIP) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 52,500 shares, a drop of 9.9% from the July 31st total of 58,300 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily volume of 8,000 shares, the days-to-cover ratio is currently 6.6 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC purchased a new position in Prudential Bancorp during the 1st quarter valued at approximately $31,000. BNP Paribas Arbitrage SA grew its holdings in Prudential Bancorp by 542.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,869 shares of the savings and loans company’s stock valued at $32,000 after buying an additional 1,578 shares in the last quarter. SG Americas Securities LLC purchased a new position in Prudential Bancorp during the 1st quarter valued at approximately $155,000. Bank of America Corp DE grew its holdings in Prudential Bancorp by 30.7% during the 4th quarter. Bank of America Corp DE now owns 10,473 shares of the savings and loans company’s stock valued at $185,000 after buying an additional 2,462 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Prudential Bancorp by 7.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 20,659 shares of the savings and loans company’s stock valued at $391,000 after buying an additional 1,350 shares in the last quarter. Institutional investors and hedge funds own 40.71% of the company’s stock.

NASDAQ PBIP traded up $0.01 during trading on Friday, hitting $17.86. 13,400 shares of the stock traded hands, compared to its average volume of 7,090. The company has a market capitalization of $148.62 million, a P/E ratio of 16.08 and a beta of 0.02. The firm has a 50-day simple moving average of $16.72 and a 200-day simple moving average of $17.42. Prudential Bancorp has a 12-month low of $13.92 and a 12-month high of $19.57.

Prudential Bancorp (NASDAQ:PBIP) last released its quarterly earnings results on Friday, July 19th. The savings and loans company reported $0.29 earnings per share for the quarter. The business had revenue of $7.40 million during the quarter. Prudential Bancorp had a return on equity of 7.16% and a net margin of 21.04%.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, September 5th.

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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