Parke Bancorp (NASDAQ:PKBK) Shares Cross Above 200 Day Moving Average – Time to Sell?

Parke Bancorp, Inc. (NASDAQ:PKBK) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.27 and traded as high as $25.14. Parke Bancorp shares last traded at $24.76, with a volume of 31,035 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Parke Bancorp in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Parke Bancorp presently has a consensus rating of “Buy”.

Parke Bancorp Price Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $23.67 and a 200 day moving average of $22.27. The firm has a market capitalization of $287.22 million, a PE ratio of 8.72 and a beta of 0.51.

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

Parke Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Parke Bancorp’s dividend payout ratio is presently 25.35%.

Insider Activity

In other news, Director Elizabeth A. Milavsky sold 10,981 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $24.71, for a total value of $271,340.51. Following the transaction, the director owned 35,278 shares in the company, valued at $871,719.38. The trade was a 23.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Dalton sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.12, for a total value of $188,400.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $251,200. This represents a 42.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 12.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fourthstone LLC grew its stake in Parke Bancorp by 243.3% in the 2nd quarter. Fourthstone LLC now owns 200,838 shares of the bank’s stock valued at $4,091,000 after purchasing an additional 142,334 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Parke Bancorp by 228.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock worth $1,991,000 after buying an additional 73,505 shares during the last quarter. Strs Ohio bought a new position in Parke Bancorp during the first quarter valued at about $494,000. Citadel Advisors LLC bought a new position in Parke Bancorp during the third quarter valued at about $532,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Parke Bancorp by 46.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 64,420 shares of the bank’s stock worth $1,312,000 after buying an additional 20,347 shares during the last quarter. Hedge funds and other institutional investors 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.