Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Parke Bancorp, Inc. (NASDAQ:PKBK)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.42 and traded as high as $21.46. Parke Bancorp shares last traded at $21.41, with a volume of 15,586 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 21st.

Parke Bancorp Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. The firm’s 50-day moving average price is $20.77 and its 200 day moving average price is $18.42. The firm has a market cap of $256.43 million, a P/E ratio of 9.19 and a beta of 0.69.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.62 EPS for the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.81%. The business had revenue of $15.62 million for the quarter.

Parke Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.36%. Parke Bancorp’s payout ratio is 30.90%.

Insiders Place Their Bets

In other Parke Bancorp news, Chairman Daniel J. Dalton sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $20.96, for a total value of $104,800.00. Following the transaction, the chairman now owns 71,319 shares of the company’s stock, valued at $1,494,846.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Parke Bancorp

A number of hedge funds have recently made changes to their positions in the business. Fulton Bank N.A. increased its stake in shares of Parke Bancorp by 52.1% during the second quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock valued at $1,286,000 after acquiring an additional 25,314 shares during the period. Dimensional Fund Advisors LP grew its position in Parke Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock worth $8,309,000 after buying an additional 22,374 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its position in Parke Bancorp by 3.9% in the first quarter. Pacific Ridge Capital Partners LLC now owns 371,714 shares of the bank’s stock worth $6,403,000 after buying an additional 14,032 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Parke Bancorp in the first quarter worth approximately $198,000. Finally, Squarepoint Ops LLC acquired a new position in Parke Bancorp in the second quarter worth approximately $186,000. Institutional investors own 49.69% of the company’s stock.

Parke Bancorp Company Profile

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.