Parke Bancorp (NASDAQ:PKBK) Shares Pass Above 200-Day Moving Average – Should You Sell?

Parke Bancorp, Inc. (NASDAQ:PKBK)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.84 and traded as high as $22.82. Parke Bancorp shares last traded at $22.55, with a volume of 41,140 shares traded.

Analyst Upgrades and Downgrades

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 Price Performance

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.46. The stock has a market cap of $267.22 million, a price-to-earnings ratio of 8.77 and a beta of 0.64. The stock has a 50-day moving average price of $21.36 and a two-hundred day moving average price of $19.84.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings results on Wednesday, July 16th. The bank reported $0.69 EPS for the quarter. Parke Bancorp had a return on equity of 10.21% and a net margin of 22.44%.The company had revenue of $18.69 million during the quarter.

Parke Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.2%. Parke Bancorp’s payout ratio is currently 28.02%.

Insiders Place Their Bets

In other Parke Bancorp news, COO Ralph Martin Gallo sold 1,946 shares of Parke Bancorp stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $21.89, for a total transaction of $42,597.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jonathan D. Hill sold 2,000 shares of Parke Bancorp stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $22.09, for a total value of $44,180.00. Following the sale, the chief financial officer directly owned 8,000 shares of the company’s stock, valued at approximately $176,720. This represents a 20.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,909 shares of company stock valued at $195,499. 12.89% of the stock is owned by company insiders.

Institutional Trading of Parke Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PKBK. BNP Paribas Financial Markets lifted its position in Parke Bancorp by 44.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after acquiring an additional 999 shares during the period. Wells Fargo & Company MN raised its stake in shares of Parke Bancorp by 15.6% during the 4th quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock valued at $204,000 after buying an additional 1,343 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Parke Bancorp during the 1st quarter valued at about $207,000. Jane Street Group LLC purchased a new position in shares of Parke Bancorp during the 1st quarter valued at about $229,000. Finally, Barclays PLC raised its stake in shares of Parke Bancorp by 16.3% during the 4th quarter. Barclays PLC now owns 15,794 shares of the bank’s stock valued at $324,000 after buying an additional 2,219 shares during the last quarter. Institutional investors and hedge funds own 49.69% of the company’s stock.

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.