Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

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 $28.85 and traded as high as $33.35. Parke Bancorp shares last traded at $32.86, with a volume of 39,661 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

Parke Bancorp Stock Performance

The company has a market cap of $381.61 million, a P/E ratio of 9.29 and a beta of 0.48. The company’s fifty day moving average is $31.49 and its 200 day moving average is $28.90. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.46.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.99 earnings per share 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 during the quarter.

Parke Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be paid a $0.20 dividend. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. Parke Bancorp’s dividend payout ratio is presently 22.86%.

Insider Transactions at Parke Bancorp

In related news, CEO Vito S. Pantilione purchased 1,300 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were 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 of the company’s stock, valued at approximately $7,210,718.73. This trade represents a 0.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 12.97% of the stock is currently owned by insiders.

Institutional Trading of Parke Bancorp

A number of institutional investors have recently made changes to their positions in PKBK. Russell Investments Group Ltd. increased its stake in shares of Parke Bancorp by 66.2% in 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 period. BNP Paribas Financial Markets boosted its position in Parke Bancorp by 44.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after buying an additional 999 shares during the period. Byrne Asset Management LLC bought a new stake in Parke Bancorp in the 4th quarter worth $75,000. Daytona Street Capital LLC bought a new stake in Parke Bancorp in the 4th quarter worth $163,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Parke Bancorp in the fourth quarter valued at about $204,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

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.