StockNews.com Upgrades Parke Bancorp (NASDAQ:PKBK) to “Buy”

Parke Bancorp (NASDAQ:PKBK) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Parke Bancorp Stock Performance

Shares of NASDAQ PKBK opened at $18.50 on Thursday. The company has a market cap of $219.10 million, a PE ratio of 8.15 and a beta of 0.73. Parke Bancorp has a 12 month low of $15.24 and a 12 month high of $24.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. The company has a 50-day simple moving average of $19.52 and a 200-day simple moving average of $20.76.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings results on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of Parke Bancorp stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total transaction of $122,752.12. Following the transaction, the director now directly owns 54,353 shares of the company’s stock, valued at $1,093,582.36. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,160 shares of company stock valued at $143,947 over the last ninety days. Corporate insiders own 15.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PKBK. Empowered Funds LLC lifted its position in Parke Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 45,466 shares of the bank’s stock valued at $950,000 after buying an additional 2,278 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after purchasing an additional 1,235 shares in the last quarter. Fourthstone LLC lifted its position in shares of Parke Bancorp by 11.8% during the third quarter. Fourthstone LLC now owns 26,957 shares of the bank’s stock worth $563,000 after purchasing an additional 2,844 shares in the last quarter. Jane Street Group LLC lifted 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 worth $293,000 after purchasing an additional 880 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Parke Bancorp by 306.7% during the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock worth $284,000 after purchasing an additional 10,237 shares in the last quarter. 49.69% of the stock is owned by institutional investors and hedge funds.

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.