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

Parke Bancorp, Inc. (NASDAQ:PKBK) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $27.34 and traded as high as $31.21. Parke Bancorp shares last traded at $30.30, with a volume of 49,072 shares trading hands.

Wall Street Analysts Forecast Growth

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

Parke Bancorp Trading Down 2.6%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $355.42 million, a price-to-earnings ratio of 8.66 and a beta of 0.48. The company has a 50 day moving average price of $29.94 and a two-hundred day moving average price of $27.34.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Friday, April 17th. The bank reported $0.99 earnings per share 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, April 2nd. Parke Bancorp’s dividend payout ratio is presently 20.57%.

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, CEO Vito S. Pantilione bought 1,300 shares of Parke Bancorp stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average cost of $30.37 per share, with a total value of $39,481.00. Following the purchase, the chief executive officer directly owned 237,429 shares in the company, valued at $7,210,718.73. This represents a 0.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 12.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Fourthstone LLC raised its stake in shares of Parke Bancorp by 52.9% during the 4th quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock worth $15,547,000 after buying an additional 214,945 shares during the period. Dimensional Fund Advisors LP raised its stake in Parke Bancorp by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock valued at $17,018,000 after purchasing an additional 25,168 shares during the last quarter. Marex Group plc acquired a new position in Parke Bancorp in the 4th quarter valued at $11,889,000. Ategra Capital Management LLC raised its stake in Parke Bancorp by 1.8% in the 3rd quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank’s stock valued at $9,489,000 after purchasing an additional 7,627 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Parke Bancorp by 83.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock valued at $7,471,000 after purchasing an additional 119,274 shares during the last quarter. 49.69% of the stock is 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.