Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Shares of 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 $24.26 and traded as high as $28.07. Parke Bancorp shares last traded at $27.29, with a volume of 76,587 shares.

Wall Street Analysts Forecast Growth

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

Parke Bancorp Stock Down 0.3%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s fifty day moving average is $27.33 and its two-hundred day moving average is $24.26. The company has a market cap of $323.11 million, a price-to-earnings ratio of 8.64 and a beta of 0.52.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.93 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 25.86% and a return on equity of 12.03%. The business had revenue of $22.74 million during the quarter.

Insider Transactions at Parke Bancorp

In other news, Director Jack C. Sheppard, Jr. sold 22,500 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $27.03, for a total transaction of $608,175.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elizabeth A. Milavsky sold 10,981 shares of the stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $24.71, for a total transaction of $271,340.51. Following the completion of the sale, the director directly owned 35,278 shares in the company, valued at approximately $871,719.38. The trade was a 23.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 1,700 shares of company stock valued at $47,430 and sold 53,156 shares valued at $1,432,521. Corporate insiders own 12.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PKBK. Russell Investments Group Ltd. boosted its stake in shares of Parke Bancorp by 66.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after acquiring an additional 855 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after buying an additional 999 shares during the period. CWM LLC increased its holdings in Parke Bancorp by 251.5% during the third quarter. CWM LLC now owns 3,367 shares of the bank’s stock valued at $73,000 after buying an additional 2,409 shares during the period. Byrne Asset Management LLC bought a new position in Parke Bancorp in the fourth quarter worth about $75,000. Finally, Daytona Street Capital LLC purchased a new position in Parke Bancorp in the fourth quarter worth $163,000. 49.69% of the stock is currently owned by institutional investors.

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.