Parke Bancorp (NASDAQ:PKBK) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Parke Bancorp (NASDAQ:PKBK) from a buy rating to a hold rating in a report issued on Saturday.

Parke Bancorp Trading Down 0.1%

Shares of NASDAQ:PKBK opened at $19.36 on Friday. Parke Bancorp has a 12-month low of $15.24 and a 12-month high of $24.29. The company has a market capitalization of $229.28 million, a PE ratio of 8.53 and a beta of 0.58. The business has a 50 day moving average of $18.92 and a two-hundred day moving average of $19.79. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.65 EPS for the quarter. The business had revenue of $17.43 million during the quarter. Parke Bancorp had a return on equity of 9.41% and a net margin of 21.25%.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, April 4th. Parke Bancorp’s dividend payout ratio (DPR) is presently 29.88%.

Institutional Trading of Parke Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in PKBK. Wells Fargo & Company MN increased its position in shares of Parke Bancorp by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock valued at $204,000 after buying an additional 1,343 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Parke Bancorp during the first quarter worth approximately $207,000. Jane Street Group LLC purchased a new position in Parke Bancorp in the 1st quarter valued at $229,000. Rhumbline Advisers boosted its stake in Parke Bancorp by 5.2% during the 4th quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after purchasing an additional 767 shares during the last quarter. Finally, Barclays PLC boosted its stake in Parke Bancorp by 16.3% during the 4th quarter. Barclays PLC now owns 15,794 shares of the bank’s stock worth $324,000 after purchasing an additional 2,219 shares during the last quarter. 49.69% of the stock is currently owned by hedge funds and other institutional investors.

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.