Short Interest in Prudential Bancorp Inc (NASDAQ:PBIP) Declines By 9.9%

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Prudential Bancorp Inc (NASDAQ:PBIP) saw a significant drop in short interest during 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. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 8,000 shares, the short-interest ratio is presently 6.6 days.

Shares of Prudential Bancorp stock traded up $0.01 during trading on Friday, hitting $17.86. 13,400 shares of the company’s stock traded hands, compared to its average volume of 7,090. Prudential Bancorp has a 1 year low of $13.92 and a 1 year high of $19.57. The stock has a market capitalization of $148.62 million, a P/E ratio of 16.08 and a beta of 0.02. The business has a 50-day simple moving average of $16.72 and a 200-day simple moving average of $17.42.

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

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

Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its holdings in Prudential Bancorp by 542.3% in the first quarter. BNP Paribas Arbitrage SA now owns 1,869 shares of the savings and loans company’s stock valued at $32,000 after acquiring an additional 1,578 shares during the period. Bank of America Corp DE lifted its holdings in Prudential Bancorp by 30.7% in the fourth quarter. Bank of America Corp DE now owns 10,473 shares of the savings and loans company’s stock valued at $185,000 after acquiring an additional 2,462 shares during the period. O Shaughnessy Asset Management LLC bought a new position in Prudential Bancorp in the first quarter valued at about $31,000. SG Americas Securities LLC bought a new position in Prudential Bancorp in the first quarter valued at about $155,000. Finally, Northern Trust Corp lifted its holdings in Prudential Bancorp by 3.7% in the second quarter. Northern Trust Corp now owns 98,457 shares of the savings and loans company’s stock valued at $1,863,000 after acquiring an additional 3,549 shares during the period. 40.71% of the stock is currently owned by institutional investors.

About Prudential Bancorp

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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