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

Parke Bancorp, Inc. (NASDAQ:PKBK) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $20.03 and traded as high as $20.76. Parke Bancorp shares last traded at $20.68, with a volume of 22,595 shares traded.

Analysts Set New Price Targets

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

Parke Bancorp Price Performance

The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $245.78 million, a price-to-earnings ratio of 8.88 and a beta of 0.71. The company’s 50 day moving average is $22.23 and its 200-day moving average is $20.03.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Friday, October 18th. The bank reported $0.62 earnings per share (EPS) for the quarter. The company had revenue of $15.62 million during the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%.

Parke Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be issued a $0.18 dividend. The ex-dividend date is Friday, January 3rd. This represents a $0.72 annualized dividend and a dividend yield of 3.48%. Parke Bancorp’s dividend payout ratio is currently 30.90%.

Insider Transactions at Parke Bancorp

In other news, Director Jeffrey H. Kripitz sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total transaction of $227,700.00. Following the transaction, the director now owns 73,013 shares in the company, valued at approximately $1,662,506.01. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Daniel J. Dalton sold 5,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $20.96, for a total value of $104,800.00. Following the completion of the sale, the chairman now owns 71,319 shares of the company’s stock, valued at $1,494,846.24. This trade represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Parke Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC boosted its holdings in Parke Bancorp by 1,990.2% in the 3rd quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock valued at $53,000 after purchasing an additional 2,428 shares during the period. BNP Paribas Financial Markets raised its position in shares of Parke Bancorp by 56.3% in the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock valued at $72,000 after buying an additional 1,235 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Parke Bancorp in the third quarter valued at approximately $211,000. Squarepoint Ops LLC acquired a new stake in Parke Bancorp during the second quarter worth approximately $186,000. Finally, Lakewood Asset Management LLC grew its position in Parke Bancorp by 8.2% during the third quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock worth $274,000 after buying an additional 997 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors and hedge funds.

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.