Parke Bancorp (NASDAQ:PKBK) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Parke Bancorp, Inc. (NASDAQ:PKBK)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.48 and traded as high as $20.98. Parke Bancorp shares last traded at $20.80, with a volume of 14,266 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Parke Bancorp in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

Parke Bancorp Price Performance

The company has a market cap of $246.48 million, a price-to-earnings ratio of 8.09 and a beta of 0.62. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average price is $21.71 and its 200 day moving average price is $20.48.

Parke Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, October 3rd. Parke Bancorp’s dividend payout ratio (DPR) is currently 28.02%.

Insider Activity

In other news, CFO Jonathan D. Hill sold 2,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $22.09, for a total value of $44,180.00. Following the completion of the transaction, the chief financial officer owned 8,000 shares in the company, valued at $176,720. This trade represents a 20.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Ralph Martin Gallo sold 1,946 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $21.89, for a total transaction of $42,597.94. The disclosure for this sale can be found here. Insiders sold 8,909 shares of company stock worth $195,499 in the last 90 days. 12.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Parke Bancorp

A number of large investors have recently made changes to their positions in PKBK. Empirical Finance LLC purchased a new position in shares of Parke Bancorp in the 1st quarter valued at about $421,000. Nuveen LLC purchased a new position in Parke Bancorp during the 1st quarter valued at about $571,000. Trexquant Investment LP purchased a new position in Parke Bancorp during the 1st quarter valued at about $207,000. Goldman Sachs Group Inc. increased its holdings in Parke Bancorp by 228.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock valued at $1,991,000 after acquiring an additional 73,505 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Parke Bancorp by 3.4% during the 1st quarter. Empowered Funds LLC now owns 49,443 shares of the bank’s stock valued at $932,000 after acquiring an additional 1,644 shares in the last quarter. Hedge funds and other institutional investors own 49.69% of the company’s stock.

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.