Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.11 and traded as high as $31.04. Parke Bancorp shares last traded at $30.86, with a volume of 100,548 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Parke Bancorp in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Parke Bancorp presently has an average rating of “Buy”.

Parke Bancorp Trading Down 0.6%

The company has a market capitalization of $359.64 million, a price-to-earnings ratio of 8.76 and a beta of 0.48. The firm has a 50-day moving average price of $28.75 and a 200-day moving average price of $26.11. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.99 earnings per share (EPS) for the quarter. Parke Bancorp had a return on equity of 13.02% and a net margin of 28.04%.The company had revenue of $22.99 million for the quarter.

Parke Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, April 3rd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, April 2nd. Parke Bancorp’s payout ratio is presently 20.57%.

Insiders Place Their Bets

In other news, insider Nicholas J. Pantilione sold 14,675 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $28.29, for a total transaction of $415,155.75. Following the sale, the insider directly owned 1,850 shares of the company’s stock, valued at $52,336.50. The trade was a 88.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vito S. Pantilione bought 1,300 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were bought at an average cost of $30.37 per share, for a total transaction of $39,481.00. Following the completion of the transaction, the chief executive officer directly owned 237,429 shares of the company’s stock, valued at $7,210,718.73. This trade represents a 0.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 2,000 shares of company stock worth $59,281 over the last ninety days. 12.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Parke Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of PKBK. Marex Group plc acquired a new stake in shares of Parke Bancorp during the fourth quarter worth $11,889,000. Fourthstone LLC raised its position in shares of Parke Bancorp by 52.9% during the fourth quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock worth $15,547,000 after purchasing an additional 214,945 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Parke Bancorp by 228.3% during the first 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 period. Dimensional Fund Advisors LP raised its position in shares of Parke Bancorp by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock worth $17,018,000 after purchasing an additional 25,168 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of Parke Bancorp during the third quarter worth $532,000. 49.69% of the stock is owned by institutional investors and hedge funds.

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.