Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

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 $28.39 and traded as high as $32.82. Parke Bancorp shares last traded at $32.56, with a volume of 44,335 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Parke Bancorp Stock Up 1.0%

The business’s fifty day simple moving average is $31.00 and its two-hundred day simple moving average is $28.42. The company has a market cap of $385.83 million, a PE ratio of 9.40 and a beta of 0.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Friday, April 17th. The bank reported $0.99 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 28.04% and a return on equity of 13.02%. The business had revenue of $22.98 million for the quarter.

Parke Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, July 3rd will be given a dividend of $0.20 per share. This is an increase from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, July 2nd. Parke Bancorp’s dividend payout ratio (DPR) is currently 22.86%.

Insider Buying and Selling

In other Parke Bancorp 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 purchase, the chief executive officer directly owned 237,429 shares in the company, valued at $7,210,718.73. This represents a 0.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 12.97% of the company’s stock.

Hedge Funds Weigh In On Parke Bancorp

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its position in shares of 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 period. Russell Investments Group Ltd. raised its position in shares of Parke Bancorp by 66.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after purchasing an additional 855 shares during the last quarter. Bank of America Corp DE lifted its stake in Parke Bancorp by 12.2% in the 1st quarter. Bank of America Corp DE now owns 9,288 shares of the bank’s stock valued at $264,000 after buying an additional 1,008 shares in the last quarter. Sei Investments Co. purchased a new position in Parke Bancorp in the 1st quarter valued at about $1,602,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Parke Bancorp by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock worth $17,018,000 after buying an additional 25,168 shares during the last quarter. 49.69% of the stock is currently 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.