Short Interest in Prudential Bancorp Inc (NASDAQ:PBIP) Decreases By 9.1%

Prudential Bancorp Inc (NASDAQ:PBIP) was the target of a significant drop in short interest in the month of November. As of November 29th, there was short interest totalling 38,100 shares, a drop of 9.1% from the November 14th total of 41,900 shares. Based on an average daily volume of 5,800 shares, the short-interest ratio is currently 6.6 days. Currently, 0.5% of the company’s shares are sold short.

NASDAQ PBIP remained flat at $$18.50 during trading hours on Friday. The company had a trading volume of 9,109 shares, compared to its average volume of 5,753. The firm has a fifty day moving average of $17.82 and a 200-day moving average of $17.40. Prudential Bancorp has a fifty-two week low of $13.92 and a fifty-two week high of $19.57. The stock has a market cap of $164.44 million, a price-to-earnings ratio of 17.45 and a beta of 0.05.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from Prudential Bancorp’s previous quarterly dividend of $0.05.

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in Prudential Bancorp by 8.8% in the third quarter. Rhumbline Advisers now owns 13,187 shares of the savings and loans company’s stock valued at $224,000 after acquiring an additional 1,062 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Prudential Bancorp by 7.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 20,659 shares of the savings and loans company’s stock valued at $391,000 after acquiring an additional 1,350 shares during the period. Bank of New York Mellon Corp grew its stake in Prudential Bancorp by 11.2% in the second quarter. Bank of New York Mellon Corp now owns 33,589 shares of the savings and loans company’s stock valued at $636,000 after acquiring an additional 3,393 shares during the period. Northern Trust Corp grew its stake 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. Finally, Maltese Capital Management LLC grew its stake in Prudential Bancorp by 22.4% in the second quarter. Maltese Capital Management LLC now owns 116,267 shares of the savings and loans company’s stock valued at $2,200,000 after acquiring an additional 21,267 shares during the period. 41.05% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: Options Trading – What is a Straddle?

Receive News & Ratings for Prudential Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.