Short Interest in Parke Bancorp, Inc. (NASDAQ:PKBK) Declines By 16.7%

Parke Bancorp, Inc. (NASDAQ:PKBK) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 56,500 shares, a decrease of 16.7% from the September 30th total of 67,800 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 18,600 shares, the days-to-cover ratio is currently 3.0 days.

Parke Bancorp Stock Down 0.5 %

NASDAQ:PKBK traded down $0.11 during trading hours on Wednesday, reaching $21.28. 17,626 shares of the company traded hands, compared to its average volume of 22,697. Parke Bancorp has a 1 year low of $15.24 and a 1 year high of $22.00. The stock has a market capitalization of $254.87 million, a P/E ratio of 9.18 and a beta of 0.70. The business’s 50-day moving average price is $20.69 and its two-hundred day moving average price is $18.31. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Friday, October 18th. The bank reported $0.62 earnings per share (EPS) for the quarter. The business had revenue of $15.62 million during the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.81%.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, October 4th. Parke Bancorp’s payout ratio is 30.90%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 21st.

Insiders Place Their Bets

In other news, Chairman Daniel J. Dalton sold 5,000 shares of Parke Bancorp stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $20.96, for a total transaction of $104,800.00. Following the sale, the chairman now owns 71,319 shares of the company’s stock, valued at approximately $1,494,846.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.52% of the company’s stock.

Hedge Funds Weigh In On Parke Bancorp

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of Parke Bancorp by 1,990.2% in the third quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock worth $53,000 after buying an additional 2,428 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Parke Bancorp by 80.1% during the 1st quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock valued at $89,000 after acquiring an additional 2,310 shares during the period. Squarepoint Ops LLC purchased a new stake in Parke Bancorp in the 2nd quarter worth approximately $186,000. Quadrature Capital Ltd bought a new position in shares of Parke Bancorp in the first quarter worth about $198,000. Finally, Private Advisor Group LLC bought a new stake in Parke Bancorp during the 3rd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

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.