Parke Bancorp, Inc. (NASDAQ:PKBK) Short Interest Update

Parke Bancorp, Inc. (NASDAQ:PKBK) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 64,296 shares, a drop of 23.0% from the December 15th total of 83,544 shares. Based on an average daily trading volume, of 40,677 shares, the short-interest ratio is currently 1.6 days. Currently, 0.6% of the shares of the company are short sold. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 40,677 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Parke Bancorp in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

Insiders Place Their Bets

In other Parke Bancorp news, Director Elizabeth A. Milavsky sold 10,981 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $24.71, for a total transaction of $271,340.51. Following the completion of the sale, the director directly owned 35,278 shares of the company’s stock, valued at approximately $871,719.38. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Dalton sold 7,500 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.12, for a total transaction of $188,400.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $251,200. The trade was a 42.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Parke Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in shares of Parke Bancorp by 66.2% in the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after buying an additional 855 shares in the last quarter. Byrne Asset Management LLC bought a new stake in Parke Bancorp in the 4th quarter valued at $75,000. BNP Paribas Financial Markets increased its holdings in Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after acquiring an additional 999 shares during the last quarter. CWM LLC lifted its stake in Parke Bancorp by 251.5% in the 3rd quarter. CWM LLC now owns 3,367 shares of the bank’s stock worth $73,000 after purchasing an additional 2,409 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of Parke Bancorp during the 3rd quarter valued at about $214,000. Institutional investors own 49.69% of the company’s stock.

Parke Bancorp Price Performance

Parke Bancorp stock traded down $0.25 during mid-day trading on Monday, hitting $25.45. The stock had a trading volume of 74,727 shares, compared to its average volume of 53,917. The firm has a market capitalization of $295.22 million, a P/E ratio of 8.96 and a beta of 0.51. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $23.95 and its 200 day moving average is $22.39. Parke Bancorp has a one year low of $16.94 and a one year high of $25.96.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.89 EPS for the quarter. Parke Bancorp had a return on equity of 11.07% and a net margin of 23.95%.The business had revenue of $21.01 million for the quarter.

Parke Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 2.8%. Parke Bancorp’s payout ratio is currently 25.35%.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.