PCSB Financial (PCSB) Downgraded by BidaskClub

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BidaskClub cut shares of PCSB Financial (NASDAQ:PCSB) from a hold rating to a sell rating in a report released on Friday morning.

PCSB Financial stock opened at $18.56 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.84 and a current ratio of 0.84. PCSB Financial has a 12 month low of $18.14 and a 12 month high of $22.34. The company has a market capitalization of $338.60 million, a price-to-earnings ratio of 35.17 and a beta of 0.84.

PCSB Financial (NASDAQ:PCSB) last released its quarterly earnings data on Thursday, October 25th. The company reported $0.14 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. PCSB Financial had a return on equity of 3.13% and a net margin of 13.88%. The business had revenue of $11.11 million for the quarter.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.12 annualized dividend and a yield of 0.65%.

In related news, VP Scott Nogles acquired 1,500 shares of the stock in a transaction on Tuesday, October 30th. The shares were acquired at an average price of $18.73 per share, for a total transaction of $28,095.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in PCSB. Schwab Charles Investment Management Inc. raised its stake in shares of PCSB Financial by 10.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 38,485 shares of the company’s stock worth $808,000 after buying an additional 3,700 shares during the period. Millennium Management LLC acquired a new position in shares of PCSB Financial during the 1st quarter worth approximately $256,000. Acadian Asset Management LLC raised its stake in shares of PCSB Financial by 36.6% during the 2nd quarter. Acadian Asset Management LLC now owns 140,517 shares of the company’s stock worth $2,793,000 after buying an additional 37,619 shares during the period. Strs Ohio raised its stake in shares of PCSB Financial by 2,029.4% during the 2nd quarter. Strs Ohio now owns 36,200 shares of the company’s stock worth $719,000 after buying an additional 34,500 shares during the period. Finally, Royce & Associates LP raised its stake in shares of PCSB Financial by 24.4% during the 2nd quarter. Royce & Associates LP now owns 288,300 shares of the company’s stock worth $5,729,000 after buying an additional 56,500 shares during the period. 47.40% of the stock is owned by institutional investors and hedge funds.

PCSB Financial Company Profile

PCSB Financial Corporation operates as the bank holding company for PCSB Bank that provides financial services to individuals and businesses in Putnam, Southern Dutchess, Rockland, and Westchester Counties in New York. Its deposits products include non-interest bearing demand, NOW, money market, escrow, and savings accounts, as well as time deposits and certificates of deposit.

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