Parke Bancorp (NASDAQ:PKBK) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Parke Bancorp, Inc. (NASDAQ:PKBK) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.05 and traded as high as $27.34. Parke Bancorp shares last traded at $27.22, with a volume of 69,238 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Parke Bancorp Stock Down 0.1%

The company has a market capitalization of $315.75 million, a price-to-earnings ratio of 8.61 and a beta of 0.52. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 1.19. The firm’s fifty day moving average price is $27.03 and its 200-day moving average price is $24.05.

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

Parke Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, January 2nd. Parke Bancorp’s dividend payout ratio (DPR) is presently 22.78%.

Insider Activity at Parke Bancorp

In related news, Director Daniel J. Dalton sold 5,000 shares of Parke Bancorp stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $27.57, for a total transaction of $137,850.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $271,340.51. Following the sale, the director directly owned 35,278 shares in the company, valued at $871,719.38. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 60,656 shares of company stock valued at $1,620,921. Corporate insiders own 12.89% of the company’s stock.

Hedge Funds Weigh In On Parke Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. acquired a new position in shares of Parke Bancorp during the fourth quarter worth $247,000. Empowered Funds LLC grew its stake in shares of Parke Bancorp by 21.9% in the fourth quarter. Empowered Funds LLC now owns 115,728 shares of the bank’s stock worth $2,877,000 after purchasing an additional 20,756 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Parke Bancorp in the fourth quarter valued at $204,000. Bridgeway Capital Management LLC increased its holdings in Parke Bancorp by 5.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 118,949 shares of the bank’s stock valued at $2,978,000 after purchasing an additional 5,756 shares during the period. Finally, AQR Capital Management LLC raised its position in Parke Bancorp by 14.1% during the 4th quarter. AQR Capital Management LLC now owns 42,942 shares of the bank’s stock worth $1,075,000 after purchasing an additional 5,316 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors and hedge funds.

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.