Parke Bancorp (PKBK) Downgraded by ValuEngine to Hold
Parke Bancorp (NASDAQ:PKBK) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.
Shares of Parke Bancorp (PKBK) traded up $0.20 on Friday, hitting $21.10. 8,380 shares of the stock were exchanged, compared to its average volume of 6,689. The company has a market cap of $160.35, a price-to-earnings ratio of 14.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.18 and a quick ratio of 1.18. Parke Bancorp has a 52-week low of $15.77 and a 52-week high of $23.00.
Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Monday, October 23rd. The bank reported $0.42 earnings per share for the quarter. The firm had revenue of $10.71 million for the quarter. Parke Bancorp had a net margin of 30.47% and a return on equity of 13.19%.
A number of large investors have recently bought and sold shares of PKBK. State of New Jersey Common Pension Fund D boosted its stake in Parke Bancorp by 10.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 125,665 shares of the bank’s stock worth $2,815,000 after acquiring an additional 11,424 shares in the last quarter. First Manhattan Co. boosted its stake in Parke Bancorp by 52.0% during the second quarter. First Manhattan Co. now owns 29,876 shares of the bank’s stock worth $669,000 after acquiring an additional 10,216 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Parke Bancorp during the second quarter worth about $211,000. Wedbush Securities Inc. boosted its stake in Parke Bancorp by 10.0% during the second quarter. Wedbush Securities Inc. now owns 27,280 shares of the bank’s stock worth $611,000 after acquiring an additional 2,480 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Parke Bancorp during the second quarter worth about $370,000. 24.88% of the stock is currently owned by institutional investors and hedge funds.
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About Parke Bancorp
Parke Bancorp, Inc is a bank holding company of Parke Bank (the Bank). The Bank is a full commercial service bank, with focus on providing personal and business financial services to individuals and small to mid-sized businesses in Gloucester, Atlantic and Cape May Counties in New Jersey and the Philadelphia area in Pennsylvania.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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