Parke Bancorp (NASDAQ:PKBK) Stock Price Crosses Above 200-Day Moving Average of $17.15

Parke Bancorp, Inc. (NASDAQ:PKBK) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.15 and traded as high as $20.65. Parke Bancorp shares last traded at $20.50, with a volume of 17,200 shares.

Parke Bancorp Stock Down 0.8 %

The business has a 50-day simple moving average of $18.39 and a 200-day simple moving average of $17.15. 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 company has a market cap of $245.59 million, a price-to-earnings ratio of 10.62 and a beta of 0.70.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Friday, July 19th. The bank reported $0.53 earnings per share for the quarter. Parke Bancorp had a net margin of 17.49% and a return on equity of 10.19%. The firm had revenue of $31.39 million for the quarter.

Parke Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.51%. The ex-dividend date was Friday, July 5th. Parke Bancorp’s dividend payout ratio (DPR) is presently 37.31%.

Insiders Place Their Bets

In other news, COO Ralph Martin Gallo sold 7,700 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total value of $151,151.00. Following the transaction, the chief operating officer now owns 404 shares in the company, valued at approximately $7,930.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Parke Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new position in Parke Bancorp in the second quarter valued at $186,000. Dimensional Fund Advisors LP boosted its position in shares of Parke Bancorp by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock valued at $8,309,000 after purchasing an additional 22,374 shares during the period. Bank of New York Mellon Corp grew its stake in Parke Bancorp by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock worth $999,000 after buying an additional 4,076 shares during the last quarter. Fulton Bank N.A. increased its holdings in shares of Parke Bancorp by 52.1% in the 2nd quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock valued at $1,286,000 after acquiring an additional 25,314 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in Parke Bancorp in the first quarter valued at $198,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.

About Parke Bancorp

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.