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

StockNews.com upgraded shares of Parke Bancorp (NASDAQ:PKBK) from a hold rating to a buy rating in a research report released on Thursday morning.

Parke Bancorp Stock Performance

Shares of NASDAQ PKBK opened at $18.50 on Thursday. The firm has a fifty day moving average price of $19.52 and a 200-day moving average price of $20.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $219.10 million, a PE ratio of 8.15 and a beta of 0.73. Parke Bancorp has a 1 year low of $15.24 and a 1 year high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Friday, January 24th. The bank reported $0.61 earnings per share for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, April 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.89%. Parke Bancorp’s dividend payout ratio is 31.72%.

Insider Buying and Selling

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the transaction, the director now owns 54,353 shares in the company, valued at $1,093,582.36. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 7,160 shares of company stock worth $143,947. 15.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Parke Bancorp

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Parke Bancorp by 56.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after buying an additional 1,235 shares during the period. Wells Fargo & Company MN increased its stake in Parke Bancorp by 15.6% in the 4th quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock worth $204,000 after buying an additional 1,343 shares during the period. Barclays PLC increased its stake in Parke Bancorp by 306.7% in the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank’s stock worth $284,000 after buying an additional 10,237 shares during the period. Jane Street Group LLC increased its stake in Parke Bancorp by 6.7% in the 3rd quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after buying an additional 880 shares during the period. Finally, Rhumbline Advisers increased its stake in Parke Bancorp by 5.2% in the 4th quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after buying an additional 767 shares during the period. Institutional investors 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.