Parke Bancorp (NASDAQ:PKBK) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.76 and traded as high as $32.06. Parke Bancorp shares last traded at $31.95, with a volume of 68,402 shares traded.

Analyst Upgrades and Downgrades

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

Parke Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $377.00 million, a price-to-earnings ratio of 9.18 and a beta of 0.48. The company has a fifty day moving average price of $30.39 and a two-hundred day moving average price of $27.79.

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

Parke Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, April 2nd. Parke Bancorp’s dividend payout ratio is currently 20.57%.

Insider Activity at Parke Bancorp

In related news, CEO Vito S. Pantilione bought 1,300 shares of Parke Bancorp stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average cost of $30.37 per share, with a total value of $39,481.00. Following the completion of the acquisition, the chief executive officer directly owned 237,429 shares in the company, valued at approximately $7,210,718.73. This trade represents a 0.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Parke Bancorp

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings 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 purchasing an additional 855 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Parke Bancorp by 44.4% during 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 lifted its holdings in shares of 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 last quarter. Bank of America Corp DE lifted its holdings in shares of Parke Bancorp by 12.2% during the first quarter. Bank of America Corp DE now owns 9,288 shares of the bank’s stock valued at $264,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Parke Bancorp by 2.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 40,690 shares of the bank’s stock valued at $1,019,000 after purchasing an additional 1,022 shares during the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

Parke Bancorp Company Profile

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.