Parke Bancorp (NASDAQ:PKBK) Upgraded at StockNews.com

StockNews.com upgraded shares of Parke Bancorp (NASDAQ:PKBK) from a hold rating to a buy rating in a research note published on Thursday.

Parke Bancorp Trading Down 1.5 %

NASDAQ:PKBK opened at $18.50 on Thursday. Parke Bancorp has a one year low of $15.24 and a one year high of $24.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. The company’s 50-day simple moving average is $19.52 and its 200 day simple moving average is $20.76. The firm has a market capitalization of $219.10 million, a P/E ratio of 8.15 and a beta of 0.73.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.89%. Parke Bancorp’s dividend payout ratio is presently 31.72%.

Insider Activity

In other news, Director Jeffrey H. Kripitz sold 6,101 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the transaction, the director now directly owns 54,353 shares of the company’s stock, valued at $1,093,582.36. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 7,160 shares of company stock valued at $143,947 over the last three months. Insiders own 15.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PKBK. Millennium Management LLC purchased a new stake in Parke Bancorp during the fourth quarter valued at approximately $413,000. Bridgeway Capital Management LLC increased its holdings in Parke Bancorp by 2.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 109,466 shares of the bank’s stock valued at $2,245,000 after buying an additional 2,333 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Parke Bancorp during the fourth quarter valued at approximately $617,000. Ategra Capital Management LLC increased its holdings in Parke Bancorp by 52.1% during the fourth quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank’s stock valued at $7,071,000 after buying an additional 118,069 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Parke Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank’s stock valued at $10,720,000 after buying an additional 27,354 shares during the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

About Parke Bancorp

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.