Parke Bancorp (NASDAQ:PKBK) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $24.47 and traded as high as $29.01. Parke Bancorp shares last traded at $28.41, with a volume of 54,836 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Parke Bancorp in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Parke Bancorp Trading Down 0.4%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.22 and a current ratio of 1.22. The company’s 50-day moving average price is $27.78 and its 200-day moving average price is $24.54. The firm has a market capitalization of $331.28 million, a PE ratio of 8.94 and a beta of 0.52.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Thursday, January 22nd. The bank reported $0.93 EPS for the quarter. The firm had revenue of $22.74 million for the quarter. Parke Bancorp had a return on equity of 12.03% and a net margin of 25.86%.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, April 3rd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, April 2nd. Parke Bancorp’s dividend payout ratio (DPR) is 22.78%.

Insiders Place Their Bets

In other Parke Bancorp news, insider Nicholas J. Pantilione sold 14,675 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $28.29, for a total transaction of $415,155.75. Following the sale, the insider owned 1,850 shares of the company’s stock, valued at approximately $52,336.50. This trade represents a 88.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Dalton sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $27.57, for a total transaction of $137,850.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 1,700 shares of company stock valued at $47,430 and sold 42,175 shares valued at $1,161,181. 15.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Parke Bancorp

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in shares of Parke Bancorp by 66.2% during the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after purchasing an additional 855 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Parke Bancorp by 44.4% in the 2nd 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. CWM LLC grew its stake in Parke Bancorp by 251.5% during the 3rd quarter. CWM LLC now owns 3,367 shares of the bank’s stock worth $73,000 after buying an additional 2,409 shares during the last quarter. Byrne Asset Management LLC purchased a new position in Parke Bancorp during the 4th quarter worth approximately $75,000. Finally, Daytona Street Capital LLC acquired a new position in Parke Bancorp during the fourth quarter worth approximately $163,000. Institutional investors and hedge funds 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.