Parke Bancorp, Inc. (NASDAQ:PKBK) Short Interest Update

Parke Bancorp, Inc. (NASDAQ:PKBK) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 43,300 shares, an increase of 23.0% from the February 28th total of 35,200 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 25,600 shares, the days-to-cover ratio is presently 1.7 days.

Parke Bancorp Stock Down 4.7 %

Shares of Parke Bancorp stock traded down $0.89 during trading on Thursday, reaching $18.19. The company had a trading volume of 19,156 shares, compared to its average volume of 24,482. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. Parke Bancorp has a fifty-two week low of $15.24 and a fifty-two week high of $24.29. The firm’s fifty day moving average is $19.38 and its 200-day moving average is $20.69. The company has a market cap of $215.42 million, a price-to-earnings ratio of 8.01 and a beta of 0.73.

Parke Bancorp (NASDAQ:PKBK) last announced 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Friday, April 4th. Parke Bancorp’s dividend payout ratio is presently 31.72%.

Insider Buying and Selling

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total value of $122,752.12. Following the transaction, the director now directly owns 54,353 shares of the company’s stock, valued at $1,093,582.36. This represents a 10.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 7,160 shares of company stock worth $143,947. 15.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Parke Bancorp

Several institutional investors have recently added to or reduced their stakes in PKBK. Rhumbline Advisers raised its stake in Parke Bancorp by 5.2% during the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after acquiring an additional 767 shares during the period. Jane Street Group LLC raised its position in shares of Parke Bancorp by 6.7% during the 3rd quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after purchasing an additional 880 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of 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 purchasing an additional 1,235 shares during the last quarter. Wells Fargo & Company MN boosted its position in Parke Bancorp by 15.6% during the 4th quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock valued at $204,000 after purchasing an additional 1,343 shares during the period. Finally, Geode Capital Management LLC increased its position in Parke Bancorp by 0.6% in the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock worth $4,845,000 after buying an additional 1,447 shares during the period. Institutional investors own 49.69% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Parke Bancorp from a “buy” rating to a “hold” rating in a report on Friday, March 28th.

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.