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

Parke Bancorp (NASDAQ:PKBK) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

Parke Bancorp Price Performance

PKBK stock opened at $20.85 on Monday. Parke Bancorp has a fifty-two week low of $15.16 and a fifty-two week high of $22.00. The company has a market capitalization of $249.78 million, a price-to-earnings ratio of 8.95 and a beta of 0.70. The business’s 50 day moving average price is $20.48 and its two-hundred day moving average price is $18.15. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.62 earnings per share for the quarter. The company had revenue of $15.62 million for the quarter. Parke Bancorp had a return on equity of 10.19% and a net margin of 17.49%.

Insider Activity

In other Parke Bancorp news, COO Ralph Martin Gallo sold 7,700 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total value of $151,151.00. Following the sale, the chief operating officer now directly owns 404 shares of the company’s stock, valued at approximately $7,930.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 15.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PKBK. BNP Paribas Financial Markets raised its stake in shares of Parke Bancorp by 80.1% in the first quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock worth $89,000 after purchasing an additional 2,310 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in Parke Bancorp by 3.9% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 371,714 shares of the bank’s stock valued at $6,403,000 after acquiring an additional 14,032 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Parke Bancorp by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock valued at $8,860,000 after acquiring an additional 5,698 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Parke Bancorp in the first quarter worth approximately $198,000. Finally, Fulton Bank N.A. raised its holdings 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 purchasing an additional 25,314 shares during the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

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.