Parke Bancorp (NASDAQ:PKBK) Share Price Passes Above 200 Day Moving Average – Here’s Why

Parke Bancorp, Inc. (NASDAQ:PKBK)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.38 and traded as high as $29.00. Parke Bancorp shares last traded at $28.61, with a volume of 103,930 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Parke Bancorp in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Parke Bancorp Price Performance

The stock has a fifty day moving average of $26.21 and a two-hundred day moving average of $23.38. 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 stock has a market capitalization of $331.88 million, a price-to-earnings ratio of 9.05 and a beta of 0.53.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.93 EPS for the quarter. Parke Bancorp had a return on equity of 12.16% and a net margin of 25.86%.The company had revenue of $22.74 million for the quarter.

Parke Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. Parke Bancorp’s dividend payout ratio is currently 22.78%.

Insider Activity at Parke Bancorp

In other Parke Bancorp news, Director Jack C. Sheppard, Jr. sold 22,500 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $27.03, for a total value of $608,175.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vito S. Pantilione purchased 1,000 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were purchased at an average cost of $27.63 per share, for a total transaction of $27,630.00. Following the purchase, the chief executive officer directly owned 236,129 shares of the company’s stock, valued at $6,524,244.27. This trade represents a 0.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 45,981 shares of company stock valued at $1,205,766. Insiders own 12.89% of the company’s stock.

Institutional Investors Weigh In On Parke Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its stake in Parke Bancorp by 228.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock valued at $1,991,000 after acquiring an additional 73,505 shares during the last quarter. Empowered Funds LLC raised its position in shares of Parke Bancorp by 3.4% during the 1st quarter. Empowered Funds LLC now owns 49,443 shares of the bank’s stock valued at $932,000 after acquiring an additional 1,644 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Parke Bancorp in the 1st quarter valued at $229,000. Empirical Finance LLC boosted its position in shares of Parke Bancorp by 58.3% in the 2nd quarter. Empirical Finance LLC now owns 35,407 shares of the bank’s stock worth $721,000 after purchasing an additional 13,036 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Parke Bancorp by 7.0% during the second quarter. Rhumbline Advisers now owns 15,969 shares of the bank’s stock worth $325,000 after purchasing an additional 1,051 shares during the period. 49.69% of the stock is owned by institutional investors.

About Parke Bancorp

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.