Parke Bancorp (NASDAQ:PKBK) Stock Passes Above 200 Day Moving Average – Time to Sell?

Parke Bancorp, Inc. (NASDAQ:PKBK) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.76 and traded as high as $32.06. Parke Bancorp shares last traded at $31.95, with a volume of 68,402 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parke Bancorp in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Parke Bancorp has a consensus rating of “Buy”.

Parke Bancorp Stock Performance

The firm has a market cap of $374.77 million, a PE ratio of 9.13 and a beta of 0.48. The company has a 50 day simple moving average of $30.32 and a 200-day simple moving average of $27.76. 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 earnings results on Friday, April 17th. The bank reported $0.99 earnings per share (EPS) for the quarter. The business had revenue of $22.99 million during the quarter. Parke Bancorp had a return on equity of 13.02% and a net margin of 28.04%.

Parke Bancorp Dividend Announcement

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

Insider Activity

In other news, CEO Vito S. Pantilione bought 1,300 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average price of $30.37 per share, for a total transaction of $39,481.00. Following the completion of the acquisition, the chief executive officer owned 237,429 shares of the company’s stock, valued at approximately $7,210,718.73. This trade represents a 0.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised 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 acquiring an additional 119,274 shares in the last quarter. Rhino Investment Partners Inc bought a new position in shares of Parke Bancorp during the first quarter valued at approximately $6,469,000. Empirical Finance LLC raised 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 acquiring an additional 48,008 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Parke Bancorp during the first quarter valued at approximately $3,408,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Parke Bancorp during the first quarter valued at approximately $321,000. 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.