Parke Bancorp (NASDAQ:PKBK) Share Price Passes Above 200 Day Moving Average – What’s Next?

Parke Bancorp, Inc. (NASDAQ:PKBK) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.47 and traded as high as $29.01. Parke Bancorp shares last traded at $28.41, with a volume of 54,836 shares trading hands.

Analysts Set New Price Targets

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

Parke Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50 day simple moving average of $27.67 and a 200-day simple moving average of $24.47. The stock has a market capitalization of $333.25 million, a P/E ratio of 8.99 and a beta of 0.52.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.93 earnings per share for the quarter. Parke Bancorp had a return on equity of 12.03% and a net margin of 25.86%.The company had revenue of $22.74 million during the quarter.

Insider Buying and Selling at Parke Bancorp

In other news, Director Jack C. Sheppard, Jr. sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $27.03, for a total value of $608,175.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas J. Pantilione sold 14,675 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $28.29, for a total transaction of $415,155.75. Following the sale, the insider owned 1,850 shares in the company, valued at $52,336.50. The trade was a 88.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have bought 1,700 shares of company stock worth $47,430 and have sold 42,175 shares worth $1,161,181. 15.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Parke Bancorp

Several institutional investors have recently made changes to their positions in PKBK. Russell Investments Group Ltd. boosted its holdings in shares of Parke Bancorp by 66.2% in the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after acquiring an additional 855 shares during the period. Byrne Asset Management LLC bought a new stake in shares of Parke Bancorp during the 4th quarter valued at $75,000. BNP Paribas Financial Markets raised its stake in shares of Parke Bancorp by 44.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after purchasing an additional 999 shares during the period. CWM LLC lifted its holdings in Parke Bancorp by 251.5% during the 3rd quarter. CWM LLC now owns 3,367 shares of the bank’s stock worth $73,000 after purchasing an additional 2,409 shares in the last quarter. Finally, Daytona Street Capital LLC bought a new position in Parke Bancorp in the 4th quarter worth about $163,000. Hedge funds and other 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.