Parke Bancorp (NASDAQ:PKBK) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Parke Bancorp, Inc. (NASDAQ:PKBK)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $28.85 and traded as high as $33.35. Parke Bancorp shares last traded at $32.86, with a volume of 39,661 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Parke Bancorp Stock Down 0.7%

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25. The business’s 50 day moving average price is $31.44 and its 200 day moving average price is $28.85. The firm has a market cap of $385.45 million, a PE ratio of 9.39 and a beta of 0.48.

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

Parke Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, July 2nd. Parke Bancorp’s dividend payout ratio (DPR) is 22.86%.

Insider Activity

In other news, CEO Vito S. Pantilione purchased 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average cost of $30.37 per share, for a total transaction of $39,481.00. Following the completion of the transaction, the chief executive officer owned 237,429 shares of the company’s stock, valued at $7,210,718.73. This trade represents a 0.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 12.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parke Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fourthstone LLC grew its holdings in shares of Parke Bancorp by 52.9% during the fourth quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock worth $15,547,000 after buying an additional 214,945 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 25,168 shares during the last quarter. Marex Group plc purchased a new position in Parke Bancorp in the 4th quarter worth approximately $11,889,000. Ategra Capital Management LLC boosted its holdings in shares of Parke Bancorp by 1.8% during the 3rd quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank’s stock worth $9,489,000 after purchasing an additional 7,627 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Parke Bancorp by 83.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock worth $7,471,000 after purchasing an additional 119,274 shares during the last quarter. Institutional investors and hedge funds 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.