Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $18.86 and traded as high as $23.05. Parke Bancorp shares last traded at $22.95, with a volume of 33,560 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 21st.

Parke Bancorp Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. The company’s fifty day moving average price is $21.23 and its 200 day moving average price is $18.86. The firm has a market capitalization of $272.88 million, a price-to-earnings ratio of 9.85 and a beta of 0.69.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Friday, October 18th. The bank reported $0.62 EPS for the quarter. The company had revenue of $15.62 million during the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%.

Parke Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.14%. Parke Bancorp’s payout ratio is currently 30.90%.

Insiders Place Their Bets

In other news, Chairman Daniel J. Dalton sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $20.96, for a total transaction of $104,800.00. Following the completion of the transaction, the chairman now owns 71,319 shares in the company, valued at approximately $1,494,846.24. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Parke Bancorp by 1,990.2% during the third quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock valued at $53,000 after buying an additional 2,428 shares during the last quarter. BNP Paribas Financial Markets raised its stake 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 in the last quarter. Private Advisor Group LLC acquired a new position in Parke Bancorp during the 3rd quarter worth $211,000. Squarepoint Ops LLC bought a new position in shares of Parke Bancorp in the second quarter worth $186,000. Finally, Quadrature Capital Ltd bought a new position in shares of Parke Bancorp in the first quarter worth $198,000. 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.