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

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

Parke Bancorp Trading Down 1.9 %

Parke Bancorp stock opened at $20.85 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market cap of $249.78 million, a PE ratio of 11.65 and a beta of 0.70. The stock has a 50-day moving average of $20.44 and a two-hundred day moving average of $18.12. Parke Bancorp has a one year low of $15.16 and a one year high of $22.00.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.62 EPS for the quarter. The firm had revenue of $15.62 million during the quarter. Parke Bancorp had a net margin of 17.49% and a return on equity of 10.19%.

Parke Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, October 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.45%. Parke Bancorp’s payout ratio is currently 40.22%.

Insider Activity at Parke Bancorp

In other Parke Bancorp news, COO Ralph Martin Gallo sold 7,700 shares of Parke Bancorp stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total transaction of $151,151.00. Following the completion of the sale, the chief operating officer now owns 404 shares of the company’s stock, valued at approximately $7,930.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Parke Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of PKBK. Vanguard Group Inc. increased its holdings in Parke Bancorp by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock worth $8,860,000 after buying an additional 5,698 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Parke Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock worth $8,309,000 after acquiring an additional 22,374 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in shares of Parke Bancorp by 3.9% during the first quarter. Pacific Ridge Capital Partners LLC now owns 371,714 shares of the bank’s stock worth $6,403,000 after purchasing an additional 14,032 shares during the last quarter. Fulton Bank N.A. lifted its position in Parke Bancorp by 52.1% during the second quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock valued at $1,286,000 after purchasing an additional 25,314 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Parke Bancorp by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock valued at $999,000 after purchasing an additional 4,076 shares during the period. Institutional investors and hedge funds own 49.69% of the company’s stock.

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.