Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Parke Bancorp, Inc. (NASDAQ:PKBK)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.91 and traded as high as $22.06. Parke Bancorp shares last traded at $21.85, with a volume of 20,493 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Parke Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

Parke Bancorp Price Performance

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 has a market capitalization of $253.37 million, a P/E ratio of 7.69 and a beta of 0.63. The company has a 50 day moving average price of $21.60 and a 200 day moving average price of $20.91.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.89 earnings per share for the quarter. Parke Bancorp had a return on equity of 11.15% and a net margin of 23.95%.The business had revenue of $21.01 million for the quarter.

Parke Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, October 3rd. Parke Bancorp’s dividend payout ratio (DPR) is currently 25.35%.

Insider Transactions at Parke Bancorp

In other news, CFO Jonathan D. Hill sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $22.09, for a total value of $44,180.00. Following the transaction, the chief financial officer owned 8,000 shares of the company’s stock, valued at approximately $176,720. This represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey H. Kripitz sold 3,363 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $22.19, for a total value of $74,624.97. Following the transaction, the director owned 47,911 shares in the company, valued at approximately $1,063,145.09. This trade represents a 6.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 6,963 shares of company stock worth $152,901. 15.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empirical Finance LLC bought a new position in Parke Bancorp during the 1st quarter worth $421,000. Nuveen LLC bought a new position in Parke Bancorp during the first quarter worth about $571,000. Trexquant Investment LP acquired a new stake in Parke Bancorp in the 1st quarter worth about $207,000. Goldman Sachs Group Inc. boosted its holdings in Parke Bancorp by 228.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock valued at $1,991,000 after purchasing an additional 73,505 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Parke Bancorp by 3.4% during the 1st quarter. Empowered Funds LLC now owns 49,443 shares of the bank’s stock worth $932,000 after purchasing an additional 1,644 shares in the last quarter. 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.