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

Parke Bancorp, Inc. (NASDAQ:PKBK) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.26 and traded as high as $28.07. Parke Bancorp shares last traded at $27.29, with a volume of 76,587 shares trading hands.

Analysts Set New Price Targets

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

Parke Bancorp Price Performance

The company’s fifty day moving average price is $27.37 and its 200 day moving average price is $24.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $325.84 million, a price-to-earnings ratio of 8.71 and a beta of 0.52.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.93 earnings per share for the quarter. Parke Bancorp had a net margin of 25.86% and a return on equity of 12.03%. The firm had revenue of $22.74 million for the quarter.

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, Director Jack C. Sheppard, Jr. sold 22,500 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $27.03, for a total value of $608,175.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vito S. Pantilione bought 1,000 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was bought at an average price of $27.63 per share, for a total transaction of $27,630.00. Following the completion of the purchase, the chief executive officer directly owned 236,129 shares of the company’s stock, valued at $6,524,244.27. The trade was a 0.43% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 1,700 shares of company stock worth $47,430 and sold 53,156 shares worth $1,432,521. Company insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

Several hedge funds have recently bought and sold shares of PKBK. Goldman Sachs Group Inc. grew its position in Parke Bancorp by 228.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock worth $1,991,000 after purchasing an additional 73,505 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Parke Bancorp by 3.4% during the first quarter. Empowered Funds LLC now owns 49,443 shares of the bank’s stock valued at $932,000 after buying an additional 1,644 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Parke Bancorp during the first quarter worth approximately $229,000. Empirical Finance LLC grew its holdings in Parke Bancorp by 58.3% in the 2nd quarter. Empirical Finance LLC now owns 35,407 shares of the bank’s stock worth $721,000 after buying an additional 13,036 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Parke Bancorp by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 15,969 shares of the bank’s stock worth $325,000 after buying an additional 1,051 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors.

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.