Parke Bancorp (NASDAQ:PKBK) Stock Crosses Above 200 Day Moving Average – What’s Next?

Parke Bancorp, Inc. (NASDAQ:PKBK)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.96 and traded as high as $32.09. Parke Bancorp shares last traded at $31.48, with a volume of 68,829 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Parke Bancorp in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Parke Bancorp Price Performance

The stock has a market capitalization of $369.26 million, a price-to-earnings ratio of 8.99 and a beta of 0.48. The business’s fifty day moving average price is $29.52 and its 200-day moving average price is $26.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.99 earnings per share (EPS) for the quarter. The firm had revenue of $22.99 million during the quarter. Parke Bancorp had a net margin of 28.04% and a return on equity of 13.02%.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, April 2nd. Parke Bancorp’s dividend payout ratio (DPR) is currently 20.57%.

Insider Activity

In other Parke Bancorp news, CEO Vito S. Pantilione acquired 1,300 shares of Parke Bancorp stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average cost of $30.37 per share, for a total transaction of $39,481.00. Following the completion of the acquisition, the chief executive officer directly owned 237,429 shares of the company’s stock, valued at $7,210,718.73. This represents a 0.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 2,000 shares of company stock worth $59,281 in the last ninety days. 12.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Parke Bancorp by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock valued at $17,018,000 after buying an additional 25,168 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Parke Bancorp by 101.9% during the first quarter. Renaissance Technologies LLC now owns 198,947 shares of the bank’s stock valued at $5,650,000 after buying an additional 100,400 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Parke Bancorp by 46.6% during the first quarter. Empowered Funds LLC now owns 169,683 shares of the bank’s stock valued at $4,819,000 after buying an additional 53,955 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Parke Bancorp by 83.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock valued at $7,471,000 after buying an additional 119,274 shares during the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of Parke Bancorp by 86.6% during the first quarter. Empirical Finance LLC now owns 103,454 shares of the bank’s stock valued at $2,938,000 after buying an additional 48,008 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors and hedge funds.

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.