Parke Bancorp (NASDAQ:PKBK) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Parke Bancorp, Inc. (NASDAQ:PKBK) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $18.86 and traded as high as $23.05. Parke Bancorp shares last traded at $22.95, with a volume of 33,560 shares traded.

Analyst Ratings Changes

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

Parke Bancorp Price Performance

The business has a fifty day moving average of $21.39 and a two-hundred day moving average of $18.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market capitalization of $271.45 million, a price-to-earnings ratio of 9.80 and a beta of 0.69.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Friday, October 18th. The bank reported $0.62 earnings per share (EPS) for the quarter. The company had revenue of $15.62 million during the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.75%.

Parke Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.15%. Parke Bancorp’s dividend payout ratio (DPR) is currently 30.90%.

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, Chairman Daniel J. Dalton sold 5,000 shares of Parke Bancorp stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $20.96, for a total value of $104,800.00. Following the completion of the transaction, the chairman now directly owns 71,319 shares of the company’s stock, valued at $1,494,846.24. The trade was a 6.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.52% of the company’s stock.

Institutional Investors Weigh In On Parke Bancorp

A number of large investors have recently modified their holdings of PKBK. Vanguard Group Inc. boosted its position in Parke Bancorp by 1.1% in the first quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock valued at $8,860,000 after buying an additional 5,698 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Parke Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock valued at $8,309,000 after acquiring an additional 22,374 shares in the last quarter. Geode Capital Management LLC grew its position in Parke Bancorp by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock worth $4,845,000 after acquiring an additional 1,447 shares during the last quarter. Fulton Bank N.A. raised its position in Parke Bancorp by 52.1% in the second quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock valued at $1,286,000 after purchasing an additional 25,314 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Parke Bancorp by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock valued at $999,000 after purchasing an additional 4,076 shares in the last quarter. Institutional investors and hedge funds 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.