Parke Bancorp (NASDAQ:PKBK) Stock Rating Lowered by Wall Street Zen

Parke Bancorp (NASDAQ:PKBK) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Parke Bancorp Price Performance

Shares of NASDAQ PKBK opened at $33.87 on Friday. The company has a fifty day moving average price of $33.99 and a 200 day moving average price of $31.55. The firm has a market cap of $398.31 million, a PE ratio of 8.82 and a beta of 0.47. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. Parke Bancorp has a 1-year low of $19.71 and a 1-year high of $35.70.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.03 earnings per share (EPS) for the quarter. The firm had revenue of $23.89 million for the quarter. Parke Bancorp had a return on equity of 13.88% and a net margin of 29.99%.

Insider Buying and Selling at Parke Bancorp

In other news, CFO Jonathan D. Hill sold 2,000 shares of Parke Bancorp stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.96, for a total value of $69,920.00. Following the completion of the transaction, the chief financial officer owned 30 shares of the company’s stock, valued at $1,048.80. This trade represents a 98.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vito S. Pantilione acquired 1,300 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was purchased at an average cost of $33.68 per share, with a total value of $43,784.00. Following the transaction, the chief executive officer owned 237,829 shares in the company, valued at approximately $8,010,080.72. This trade represents a 0.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 12.97% of the company’s stock.

Hedge Funds Weigh In On Parke Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of PKBK. Sequoia Financial Advisors LLC bought a new position in shares of Parke Bancorp during the 2nd quarter worth approximately $221,000. Pale Fire Capital SE acquired a new position in shares of Parke Bancorp in the second quarter valued at about $286,000. Susquehanna Fundamental Investments LLC grew its position in shares of Parke Bancorp by 53.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 12,543 shares of the bank’s stock worth $416,000 after purchasing an additional 4,348 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Parke Bancorp during the second quarter worth approximately $331,000. Finally, Empowered Funds LLC bought a new position in shares of Parke Bancorp during the second quarter worth approximately $5,278,000. Institutional investors own 49.69% of the company’s stock.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-focused financial institution headquartered in Washington Township, New Jersey. The bank serves individuals, families, businesses and organizations in southern New Jersey and the greater Philadelphia area.

Parke Bank provides a range of traditional banking products and services, including consumer and business deposit accounts, residential and commercial real estate lending, construction loans, commercial and industrial loans, and other business financing.