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

Parke Bancorp, Inc. (NASDAQ:PKBK)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.06 and traded as high as $29.22. Parke Bancorp shares last traded at $28.73, with a volume of 74,446 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Parke Bancorp in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Parke Bancorp presently has an average rating of “Buy”.

Parke Bancorp Stock Up 0.1%

The firm has a market capitalization of $333.27 million, a price-to-earnings ratio of 9.09 and a beta of 0.53. 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 fifty day moving average of $25.63 and a two-hundred day moving average of $23.06.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Thursday, January 22nd. The bank reported $0.93 EPS for the quarter. Parke Bancorp had a return on equity of 12.16% and a net margin of 25.86%.The firm had revenue of $22.74 million for the quarter.

Parke Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.18 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.72 annualized dividend and a yield of 2.5%. Parke Bancorp’s dividend payout ratio is presently 22.78%.

Insider Activity

In other news, Director Daniel J. Dalton sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $27.57, for a total value of $137,850.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Elizabeth A. Milavsky sold 10,981 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $24.71, for a total transaction of $271,340.51. Following the sale, the director owned 35,278 shares of the company’s stock, valued at approximately $871,719.38. This trade represents a 23.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 45,981 shares of company stock worth $1,205,766. 12.89% of the stock is owned by company insiders.

Institutional Trading of Parke Bancorp

A number of institutional investors have recently bought and sold shares of PKBK. Lakewood Asset Management LLC grew its holdings in Parke Bancorp by 8.1% during the 4th quarter. Lakewood Asset Management LLC now owns 14,593 shares of the bank’s stock worth $365,000 after acquiring an additional 1,089 shares during the period. Ritholtz Wealth Management boosted its position in shares of Parke Bancorp by 16.3% during the 4th quarter. Ritholtz Wealth Management now owns 11,560 shares of the bank’s stock valued at $289,000 after purchasing an additional 1,620 shares in the last quarter. Daytona Street Capital LLC bought a new stake in shares of Parke Bancorp during the 4th quarter valued at about $163,000. Byrne Asset Management LLC acquired a new stake in Parke Bancorp during the fourth quarter worth approximately $75,000. Finally, JPMorgan Chase & Co. increased its holdings in Parke Bancorp by 12.6% in the third quarter. JPMorgan Chase & Co. now owns 11,214 shares of the bank’s stock worth $242,000 after purchasing an additional 1,253 shares in the last quarter. Institutional investors own 49.69% of the company’s stock.

About Parke Bancorp

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.