Parke Bancorp (NASDAQ:PKBK) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Parke Bancorp (NASDAQ:PKBK) from a buy rating to a hold rating in a report published on Monday.

Parke Bancorp Stock Performance

NASDAQ PKBK opened at $20.12 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. Parke Bancorp has a twelve month low of $15.24 and a twelve month high of $24.29. The business has a 50-day moving average price of $21.33 and a 200-day moving average price of $20.70. The firm has a market cap of $239.23 million, a price-to-earnings ratio of 8.64 and a beta of 0.73.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Friday, January 24th. The bank reported $0.61 earnings per share for the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%.

Parke Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.58%. Parke Bancorp’s dividend payout ratio is currently 30.90%.

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 10,000 shares of the company’s 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 sale, the director now directly owns 73,013 shares in the company, valued at $1,662,506.01. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 15.33% of the stock is currently owned by company insiders.

Institutional Trading of Parke Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of PKBK. Jane Street Group LLC boosted its position in shares of Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after buying an additional 880 shares during the period. Lakewood Asset Management LLC lifted its stake in shares of Parke Bancorp by 8.2% during the 3rd quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock worth $274,000 after acquiring an additional 997 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Parke Bancorp by 56.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock valued at $72,000 after acquiring an additional 1,235 shares during the period. Geode Capital Management LLC grew its position in Parke Bancorp by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock valued at $4,845,000 after acquiring an additional 1,447 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Parke Bancorp by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock worth $336,000 after purchasing an additional 1,842 shares during the period. Hedge funds and other institutional investors own 49.69% of the company’s stock.

About Parke Bancorp

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.