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

Parke Bancorp, Inc. (NASDAQ:PKBK) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.45 and traded as high as $21.50. Parke Bancorp shares last traded at $21.24, with a volume of 12,678 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Parke Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th.

Parke Bancorp Stock Down 0.1%

The business has a 50-day simple moving average of $19.89 and a two-hundred day simple moving average of $19.45. The company has a market cap of $251.48 million, a price-to-earnings ratio of 8.81 and a beta of 0.58. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.49.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.65 earnings per share for the quarter. Parke Bancorp had a return on equity of 9.76% and a net margin of 21.82%. The company had revenue of $17.43 million during the quarter.

Parke Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be given a $0.18 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.39%. Parke Bancorp’s dividend payout ratio is currently 29.88%.

Institutional Trading of Parke Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in PKBK. Charles Schwab Investment Management Inc. increased its stake in shares of 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. JPMorgan Chase & Co. increased its stake in shares of Parke Bancorp by 135.8% in the fourth quarter. JPMorgan Chase & Co. now owns 37,926 shares of the bank’s stock worth $778,000 after purchasing an additional 21,841 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Parke Bancorp in the fourth quarter worth about $426,000. Wells Fargo & Company MN increased its stake in shares of Parke Bancorp by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock worth $204,000 after purchasing an additional 1,343 shares during the period. Finally, Barclays PLC increased its stake in shares of Parke Bancorp by 16.3% in the fourth quarter. Barclays PLC now owns 15,794 shares of the bank’s stock worth $324,000 after purchasing an additional 2,219 shares during the period. Institutional investors and hedge funds own 49.69% of the company’s stock.

Parke Bancorp Company Profile

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.