Parke Bancorp (NASDAQ:PKBK) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Parke Bancorp, Inc. (NASDAQ:PKBK) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $28.39 and traded as high as $32.82. Parke Bancorp shares last traded at $32.56, with a volume of 44,335 shares changing hands.

Wall Street Analysts Forecast Growth

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

Parke Bancorp Trading Down 0.5%

The stock has a market capitalization of $381.93 million, a price-to-earnings ratio of 9.30 and a beta of 0.48. 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 fifty day moving average of $30.93 and a 200-day moving average of $28.39.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.99 EPS for the quarter. The company had revenue of $22.98 million for the quarter. Parke Bancorp had a return on equity of 13.02% and a net margin of 28.04%.

Parke Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Thursday, July 2nd. This is an increase from Parke Bancorp’s previous quarterly dividend of $0.18. Parke Bancorp’s dividend payout ratio (DPR) is 20.57%.

Insider Buying and Selling

In related news, CEO Vito S. Pantilione purchased 1,300 shares of Parke Bancorp stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average cost of $30.37 per share, with a total value of $39,481.00. Following the transaction, the chief executive officer owned 237,429 shares of the company’s stock, valued at approximately $7,210,718.73. The trade was a 0.55% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 12.97% of the company’s stock.

Institutional Trading of Parke Bancorp

Several large investors have recently bought and sold shares of PKBK. Fourthstone LLC raised its stake in shares of Parke Bancorp by 52.9% during the fourth quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock valued at $15,547,000 after purchasing an additional 214,945 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Parke Bancorp by 4.4% in the first 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 period. Marex Group plc acquired a new stake in Parke Bancorp during the 4th quarter valued at $11,889,000. Ategra Capital Management LLC grew its holdings in Parke Bancorp by 1.8% during 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Parke Bancorp by 83.0% during 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 in the last quarter. Institutional investors and hedge funds 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.