Parke Bancorp (NASDAQ:PKBK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Parke Bancorp (NASDAQ:PKBK) from a hold rating to a buy rating in a research note released on Monday.

Parke Bancorp Trading Up 0.6 %

Shares of Parke Bancorp stock opened at $20.98 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $251.34 million, a P/E ratio of 9.00 and a beta of 0.70. Parke Bancorp has a 52-week low of $15.16 and a 52-week high of $22.00. The stock’s 50-day simple moving average is $20.53 and its 200 day simple moving average is $18.17.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.62 EPS for the quarter. Parke Bancorp had a net margin of 17.49% and a return on equity of 10.19%. The company had revenue of $15.62 million for the quarter.

Parke Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Friday, October 4th. Parke Bancorp’s dividend payout ratio (DPR) is presently 30.90%.

Insider Buying and Selling

In other Parke Bancorp news, COO Ralph Martin Gallo sold 7,700 shares of Parke Bancorp stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total transaction of $151,151.00. Following the completion of the transaction, the chief operating officer now owns 404 shares of the company’s stock, valued at $7,930.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Parke Bancorp

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in Parke Bancorp by 1,990.2% in the 3rd quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock worth $53,000 after purchasing an additional 2,428 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Parke Bancorp by 80.1% in the first quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock worth $89,000 after buying an additional 2,310 shares in the last quarter. Private Advisor Group LLC bought a new stake in Parke Bancorp during the third quarter valued at $211,000. Squarepoint Ops LLC purchased a new position in Parke Bancorp during the second quarter worth about $186,000. Finally, Quadrature Capital Ltd bought a new position in Parke Bancorp in the 1st quarter worth about $198,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Parke Bancorp Company Profile

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.