Parke Bancorp (NASDAQ:PKBK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Parke Bancorp (NASDAQ:PKBK) from a hold rating to a buy rating in a research note published on Saturday.

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

Parke Bancorp Price Performance

Parke Bancorp stock opened at $34.26 on Friday. Parke Bancorp has a 52-week low of $19.71 and a 52-week high of $34.78. The firm has a fifty day moving average of $32.77 and a 200-day moving average of $30.27. The firm has a market capitalization of $402.90 million, a P/E ratio of 8.92 and a beta of 0.47. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.51.

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

Parke Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, July 2nd. This is an increase from Parke Bancorp’s previous quarterly dividend of $0.18. Parke Bancorp’s dividend payout ratio is currently 20.83%.

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, CEO Vito S. Pantilione bought 1,300 shares of the stock in a transaction dated Wednesday, July 29th. The stock was bought at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the completion of the purchase, the chief executive officer directly owned 237,829 shares of the company’s stock, valued at approximately $8,010,080.72. The trade was a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in Parke Bancorp by 66.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after purchasing an additional 855 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 last quarter. Byrne Asset Management LLC grew its position in shares of Parke Bancorp by 14.3% during the second quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock worth $106,000 after buying an additional 400 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Parke Bancorp during the fourth quarter worth approximately $204,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Parke Bancorp in the fourth quarter worth $221,000. 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.