Parke Bancorp (NASDAQ:PKBK) Stock Rating Upgraded by StockNews.com

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

Parke Bancorp Stock Up 1.8 %

Shares of NASDAQ PKBK opened at $17.85 on Monday. The company has a market cap of $211.40 million, a P/E ratio of 7.86 and a beta of 0.56. The firm has a 50-day simple moving average of $18.70 and a two-hundred day simple moving average of $20.35. Parke Bancorp has a 1 year low of $15.24 and a 1 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.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter. Parke Bancorp had a return on equity of 9.41% and a net margin of 21.25%. The company had revenue of $17.43 million during the quarter.

Parke Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, April 4th. This represents a $0.72 dividend on an annualized basis and a yield of 4.03%. Parke Bancorp’s payout ratio is 29.88%.

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of Parke Bancorp stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 7,160 shares of company stock valued at $143,947 in the last three months. Company insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in Parke Bancorp by 15.6% during the 4th quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock valued at $204,000 after purchasing an additional 1,343 shares during the period. Barclays PLC boosted its stake in shares of Parke Bancorp by 306.7% during the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after purchasing an additional 10,237 shares in the last quarter. Jane Street Group LLC increased its holdings in Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after buying an additional 880 shares during the period. Rhumbline Advisers raised its stake in Parke Bancorp by 5.2% in the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after buying an additional 767 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Parke Bancorp by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock worth $336,000 after buying an additional 1,842 shares during the period. 49.69% of the stock is owned by hedge funds and other institutional investors.

Parke Bancorp Company Profile

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.