Parke Bancorp (NASDAQ:PKBK) Rating Increased to Hold at ValuEngine

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Parke Bancorp (NASDAQ:PKBK) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Saturday, ValuEngine reports.

Separately, BidaskClub cut shares of Parke Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday.

Shares of Parke Bancorp stock opened at $21.51 on Friday. Parke Bancorp has a twelve month low of $17.75 and a twelve month high of $23.14. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $23.82 and a two-hundred day simple moving average of $23.20. The stock has a market capitalization of $254.17 million, a price-to-earnings ratio of 7.88 and a beta of 0.69.

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,800 shares of Parke Bancorp stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $23.25, for a total value of $158,100.00. Following the completion of the sale, the director now owns 188,243 shares in the company, valued at approximately $4,376,649.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack C. Sheppard, Jr. sold 5,000 shares of Parke Bancorp stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $22.91, for a total transaction of $114,550.00. Following the completion of the sale, the director now owns 70,488 shares of the company’s stock, valued at approximately $1,614,880.08. The disclosure for this sale can be found here. Insiders sold a total of 16,800 shares of company stock valued at $391,400 in the last quarter. Corporate insiders own 17.82% of the company’s stock.

A number of institutional investors have recently modified their holdings of PKBK. Citigroup Inc. raised its stake in Parke Bancorp by 79.3% in the 4th quarter. Citigroup Inc. now owns 1,804 shares of the bank’s stock worth $46,000 after purchasing an additional 798 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Parke Bancorp in the 4th quarter valued at approximately $63,000. Denali Advisors LLC raised its position in shares of Parke Bancorp by 2,600.0% in the 4th quarter. Denali Advisors LLC now owns 2,700 shares of the bank’s stock valued at $69,000 after buying an additional 2,600 shares in the last quarter. Barclays PLC raised its position in shares of Parke Bancorp by 100.8% in the 4th quarter. Barclays PLC now owns 9,173 shares of the bank’s stock valued at $233,000 after buying an additional 4,604 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Parke Bancorp by 9.6% in the 3rd quarter. Rhumbline Advisers now owns 13,300 shares of the bank’s stock valued at $296,000 after buying an additional 1,162 shares in the last quarter. Institutional investors and hedge funds own 38.61% 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, money market, and individual retirement accounts, as well as certificates of deposit.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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