Parke Bancorp (NASDAQ:PKBK) Rating Lowered to “Hold” at StockNews.com

Parke Bancorp (NASDAQ:PKBK) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Parke Bancorp Price Performance

NASDAQ PKBK opened at $18.93 on Friday. Parke Bancorp has a 52 week low of $15.24 and a 52 week high of $24.29. The company has a market cap of $224.19 million, a PE ratio of 8.34 and a beta of 0.73. The firm’s 50-day simple moving average is $19.44 and its two-hundred day simple moving average is $20.72. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64.

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

Insiders Place Their Bets

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of Parke Bancorp stock in a transaction on Wednesday, February 5th. The stock was 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 approximately $1,093,582.36. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 7,160 shares of company stock worth $143,947. 15.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Parke Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new stake in Parke Bancorp during the 4th quarter valued at about $413,000. Bridgeway Capital Management LLC grew its holdings in shares of Parke Bancorp by 2.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 109,466 shares of the bank’s stock valued at $2,245,000 after buying an additional 2,333 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Parke Bancorp during the fourth quarter valued at approximately $617,000. Ategra Capital Management LLC raised its holdings in Parke Bancorp by 52.1% in the 4th quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank’s stock worth $7,071,000 after acquiring an additional 118,069 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Parke Bancorp by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank’s stock worth $10,720,000 after acquiring an additional 27,354 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.