Parke Bancorp (NASDAQ:PKBK) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Parke Bancorp, Inc. (NASDAQ:PKBK)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.83 and traded as high as $24.95. Parke Bancorp shares last traded at $24.81, with a volume of 20,526 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Parke Bancorp in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Parke Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market cap of $287.80 million, a PE ratio of 8.74 and a beta of 0.53. The business has a 50 day moving average price of $22.91 and a two-hundred day moving average price of $21.83.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.89 EPS for the quarter. The company had revenue of $21.01 million during the quarter. Parke Bancorp had a net margin of 23.95% and a return on equity of 11.07%.

Parke Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Parke Bancorp’s dividend payout ratio is 25.35%.

Insider Activity

In related news, Director Daniel J. Dalton sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.12, for a total value of $188,400.00. Following the sale, the director directly owned 10,000 shares of the company’s stock, valued at $251,200. This trade represents a 42.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Parke Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its position in shares of Parke Bancorp by 66.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after buying an additional 855 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Parke Bancorp by 44.4% in the second quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after acquiring an additional 999 shares in the last quarter. CWM LLC boosted its holdings in Parke Bancorp by 251.5% in the third quarter. CWM LLC now owns 3,367 shares of the bank’s stock valued at $73,000 after acquiring an additional 2,409 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Parke Bancorp during the 3rd quarter valued at $214,000. Finally, Trexquant Investment LP bought a new position in Parke Bancorp in the 1st quarter worth $207,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.