Parke Bancorp, Inc. (NASDAQ:PKBK) Short Interest Up 46.7% in January

Parke Bancorp, Inc. (NASDAQ:PKBK) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 94,352 shares, an increase of 46.7% from the December 31st total of 64,296 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 76,169 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 76,169 shares, the short-interest ratio is currently 1.2 days. Currently, 0.9% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Parke Bancorp in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Parke Bancorp Stock Up 3.5%

Shares of NASDAQ:PKBK opened at $28.26 on Tuesday. The business’s 50 day moving average is $25.07 and its 200 day moving average is $22.83. The stock has a market cap of $327.70 million, a price-to-earnings ratio of 8.94 and a beta of 0.51. 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 has a 12-month low of $16.94 and a 12-month high of $28.61.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Thursday, January 22nd. The bank reported $0.93 EPS for the quarter. The firm had revenue of $22.74 million for the quarter. Parke Bancorp had a net margin of 25.86% and a return on equity of 12.16%.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. Parke Bancorp’s dividend payout ratio (DPR) is currently 22.78%.

Insider Activity

In other Parke Bancorp news, Director Elizabeth A. Milavsky sold 10,981 shares of the company’s stock in a transaction 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 sale, the director 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack C. Sheppard, Jr. sold 22,500 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $27.03, for a total value of $608,175.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,981 shares of company stock worth $1,205,766 in the last three months. Corporate insiders own 15.33% of the company’s stock.

Hedge Funds Weigh In On Parke Bancorp

Several institutional investors have recently added to or reduced their stakes in PKBK. Russell Investments Group Ltd. increased its holdings in Parke Bancorp by 66.2% during 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 during the last quarter. BNP Paribas Financial Markets lifted its stake in Parke Bancorp by 44.4% in the second 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 last quarter. Militia Capital Partners LP grew its holdings in Parke Bancorp by 0.8% during the second quarter. Militia Capital Partners LP now owns 118,961 shares of the bank’s stock valued at $2,423,000 after purchasing an additional 1,000 shares during the period. Rhumbline Advisers increased its position in Parke Bancorp by 7.0% in the second quarter. Rhumbline Advisers now owns 15,969 shares of the bank’s stock worth $325,000 after buying an additional 1,051 shares during the last quarter. Finally, Lakewood Asset Management LLC raised its stake in shares of Parke Bancorp by 8.1% in the fourth quarter. Lakewood Asset Management LLC now owns 14,593 shares of the bank’s stock valued at $365,000 after buying an additional 1,089 shares during the period. 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.