Parke Bancorp (NASDAQ:PKBK) Upgraded by StockNews.com to “Buy” Rating

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

Parke Bancorp Stock Performance

NASDAQ PKBK opened at $18.78 on Thursday. The company’s 50 day simple moving average is $19.53 and its two-hundred day simple moving average is $20.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. Parke Bancorp has a 1 year low of $15.24 and a 1 year high of $24.29. The stock has a market capitalization of $222.41 million, a PE ratio of 8.27 and a beta of 0.73.

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

Parke Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Friday, April 4th. Parke Bancorp’s dividend payout ratio (DPR) is currently 31.72%.

Insider Transactions at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total transaction of $122,752.12. Following the sale, 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 SEC, which is available at this hyperlink. In the last ninety days, insiders sold 7,160 shares of company stock valued at $143,947. Insiders own 15.33% of the company’s stock.

Hedge Funds Weigh In On Parke Bancorp

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position 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 last quarter. Wells Fargo & Company MN raised its stake in shares of Parke Bancorp by 15.6% during the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock worth $204,000 after acquiring an additional 1,343 shares in the last quarter. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 10,237 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Parke Bancorp by 6.7% in the 3rd quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after purchasing an additional 880 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Parke Bancorp by 5.2% during the 4th quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock valued at $318,000 after purchasing an additional 767 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors.

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.