Parke Bancorp (NASDAQ:PKBK) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Parke Bancorp, Inc. (NASDAQ:PKBK) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.83 and traded as high as $24.95. Parke Bancorp shares last traded at $24.81, with a volume of 20,526 shares traded.

Wall Street Analyst Weigh In

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

Parke Bancorp Stock Performance

The company has a 50-day moving average of $22.91 and a 200-day moving average of $21.84. The company has a market cap of $287.80 million, a PE ratio of 8.74 and a beta of 0.53. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.27.

Parke Bancorp (NASDAQ:PKBK) last released 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 during the quarter.

Parke Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Parke Bancorp’s dividend payout ratio (DPR) is presently 25.35%.

Insiders Place Their Bets

In other Parke Bancorp news, Director Daniel J. Dalton sold 7,500 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $25.12, for a total value of $188,400.00. Following the completion of the sale, the director directly owned 10,000 shares of the company’s stock, valued at approximately $251,200. This represents a 42.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 15.33% of the company’s stock.

Hedge Funds Weigh In On Parke Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in shares of Parke Bancorp by 66.2% during the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock valued at $46,000 after acquiring an additional 855 shares during the last quarter. BNP Paribas Financial Markets grew its stake 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 purchasing an additional 999 shares during the period. CWM LLC increased its position in shares of Parke Bancorp by 251.5% during the 3rd quarter. CWM LLC now owns 3,367 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,409 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Parke Bancorp during the 1st quarter worth $207,000. Finally, Ritholtz Wealth Management purchased a new position in shares of Parke Bancorp in the 3rd quarter worth about $214,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

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.