Parke Bancorp (NASDAQ:PKBK) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Parke Bancorp (NASDAQ:PKBK) from a buy rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated 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, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Parke Bancorp Trading Down 1.1%

Shares of PKBK opened at $33.87 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $398.31 million, a price-to-earnings ratio of 8.82 and a beta of 0.47. The stock has a fifty day moving average price of $33.99 and a two-hundred day moving average price of $31.53. Parke Bancorp has a 52-week low of $19.71 and a 52-week high of $35.70.

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

Insider Activity

In other Parke Bancorp news, CEO Vito Pantilione purchased 1,300 shares of the stock in a transaction dated Wednesday, July 29th. The stock was bought at an average price of $33.68 per share, for a total transaction of $43,784.00. Following the transaction, the chief executive officer directly owned 237,829 shares in the company, valued at $8,010,080.72. This represents a 0.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jonathan D. Hill sold 2,000 shares of Parke Bancorp stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.96, for a total transaction of $69,920.00. Following the sale, the chief financial officer owned 30 shares of the company’s stock, valued at approximately $1,048.80. This represents a 98.52% decrease in their position. The SEC filing for this sale provides additional information. 12.97% of the stock is currently owned by company insiders.

Institutional Trading of Parke Bancorp

A number of institutional investors have recently bought and sold shares of PKBK. Arrowstreet Capital Limited Partnership raised its position in shares of Parke Bancorp by 83.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock valued at $7,471,000 after acquiring an additional 119,274 shares during the last quarter. Pinnacle Holdings LLC bought a new position in shares of Parke Bancorp in the 2nd quarter worth $1,656,000. Militia Capital Management LLC bought a new position in shares of Parke Bancorp in the 1st quarter worth $3,408,000. Sei Investments Co. bought a new position in shares of Parke Bancorp in the 1st quarter worth $1,602,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Parke Bancorp during the second quarter worth $1,233,000. Institutional investors and hedge funds 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.