Parke Bancorp (NASDAQ:PKBK) Stock Price Breaks Above 200-Day Moving Average – Here’s What Happened

Parke Bancorp, Inc. (NASDAQ:PKBK – Get Free Report)’s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $32.18 and traded as high as $32.73. Parke Bancorp shares last traded at $32.49, with a volume of 28,721 shares.

Wall Street Analyst Weigh In

PKBK has been the subject of several analyst reports. Wall Street Zen raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Weiss Ratings restated a “buy (b)” rating on shares of Parke Bancorp in a report on Monday, September 21st. One research analyst has rated the stock with a Buy rating. According to MarketBeat, Parke Bancorp presently has a consensus rating of “Buy”.

View Our Latest Stock Report on Parke Bancorp

Parke Bancorp Stock Up 0.1%

The company’s fifty day simple moving average is $33.87 and its 200-day simple moving average is $32.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $380.91 million, a PE ratio of 8.43 and a beta of 0.51.

Parke Bancorp (NASDAQ:PKBK – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.03 earnings per share (EPS) for the quarter. Parke Bancorp had a return on equity of 13.88% and a net margin of 29.99%. The business had revenue of $23.89 million for the quarter.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, October 2nd. Parke Bancorp’s payout ratio is 20.83%.

Insider Buying and Selling at Parke Bancorp

In related news, CFO Jonathan D. Hill sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.96, for a total transaction of $69,920.00. Following the transaction, the chief financial officer directly owned 30 shares of the company’s stock, valued at $1,048.80. This represents a 98.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vito Pantilione purchased 1,300 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of $33.68 per share, with a total value of $43,784.00. Following the completion of the purchase, the chief executive officer owned 237,829 shares of the company’s stock, valued at $8,010,080.72. The trade was a 0.55% increase in their position. The disclosure for this purchase is available in the SEC filing. 12.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Parke Bancorp

A number of large investors have recently modified their holdings of PKBK. BlackRock Inc. purchased a new position in shares of Parke Bancorp in the 2nd quarter valued at approximately $26,035,000. Dimensional Fund Advisors LP boosted its stake in Parke Bancorp by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock worth $17,018,000 after purchasing an additional 25,168 shares in the last quarter. Ategra Capital Management LLC purchased a new stake in Parke Bancorp during the 2nd quarter worth approximately $11,402,000. Arrowstreet Capital Limited Partnership grew its position in Parke Bancorp by 83.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock worth $7,471,000 after purchasing an additional 119,274 shares during the last quarter. Finally, Rhino Investment Partners Inc purchased a new stake in Parke Bancorp during the 1st quarter worth approximately $6,469,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

About Parke Bancorp

(Get Free Report)

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-focused commercial bank headquartered in Washington Township, New Jersey. Founded in 1999, the company serves individuals, businesses and organizations in southern New Jersey and the greater Philadelphia metropolitan area.

Parke Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include commercial real estate loans, construction and development financing, commercial business loans, residential mortgages and consumer loans.

Further Reading

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