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

Parke Bancorp, Inc. (NASDAQ:PKBK) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.14 and traded as high as $20.18. Parke Bancorp shares last traded at $20.01, with a volume of 18,700 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a report on Monday, April 21st.

Parke Bancorp Trading Down 0.8%

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $236.98 million, a price-to-earnings ratio of 8.82 and a beta of 0.57. The business’s 50 day moving average price is $18.70 and its 200-day moving average price is $20.14.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Thursday, April 17th. The bank reported $0.65 EPS for the quarter. The company had revenue of $17.43 million for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a $0.18 dividend. The ex-dividend date was Friday, April 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.60%. Parke Bancorp’s dividend payout ratio is 29.88%.

Institutional Trading of Parke Bancorp

Several hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its position in Parke Bancorp by 306.7% in the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after buying an additional 10,237 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Parke Bancorp by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after acquiring an additional 1,842 shares during the period. Empowered Funds LLC lifted its stake in shares of Parke Bancorp by 5.1% during the fourth quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock valued at $980,000 after acquiring an additional 2,333 shares during the period. Rhumbline Advisers boosted its holdings in Parke Bancorp by 5.2% in the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock valued at $318,000 after acquiring an additional 767 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Parke Bancorp by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank’s stock worth $622,000 after purchasing an additional 1,574 shares during the period. 49.69% of the stock is owned by institutional investors.

About Parke Bancorp

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.