Parke Bancorp (NASDAQ:PKBK) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Parke Bancorp, Inc. (NASDAQ:PKBK) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.34 and traded as high as $24.23. Parke Bancorp shares last traded at $24.02, with a volume of 34,668 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Parke Bancorp in a research report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Parke Bancorp has a consensus rating of “Buy”.

Parke Bancorp Price Performance

The stock has a 50-day moving average of $21.77 and a two-hundred day moving average of $21.34. The firm has a market cap of $278.54 million, a price-to-earnings ratio of 8.46 and a beta of 0.53. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.89 EPS for the quarter. Parke Bancorp had a net margin of 23.95% and a return on equity of 11.07%. The company had revenue of $21.01 million during the quarter.

Parke Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.0%. Parke Bancorp’s dividend payout ratio (DPR) is currently 25.35%.

Institutional Trading of Parke Bancorp

Several large investors have recently added to or reduced their stakes in the company. Militia Capital Partners LP lifted its holdings in shares of Parke Bancorp by 0.9% in the third quarter. Militia Capital Partners LP now owns 120,000 shares of the bank’s stock valued at $2,586,000 after purchasing an additional 1,039 shares in the last quarter. Citadel Advisors LLC acquired a new position in Parke Bancorp during the third quarter valued at $532,000. Ategra Capital Management LLC lifted its stake in Parke Bancorp by 1.8% in the 3rd quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank’s stock worth $9,489,000 after acquiring an additional 7,627 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in Parke Bancorp by 2.3% during the 3rd quarter. Bridgeway Capital Management LLC now owns 113,193 shares of the bank’s stock worth $2,439,000 after acquiring an additional 2,534 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Parke Bancorp by 29.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 83,638 shares of the bank’s stock valued at $1,802,000 after acquiring an additional 19,218 shares in the last quarter. 49.69% of the stock is owned by institutional investors and hedge funds.

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.