Parke Bancorp (NASDAQ:PKBK) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Parke Bancorp (NASDAQ:PKBK) from a buy rating to a hold rating in a research report sent to investors on Monday.

Parke Bancorp Stock Performance

NASDAQ:PKBK opened at $20.44 on Monday. Parke Bancorp has a twelve month low of $15.24 and a twelve month high of $24.29. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The stock has a market cap of $243.03 million, a P/E ratio of 8.77 and a beta of 0.73. The business’s 50-day moving average price is $21.23 and its two-hundred day moving average price is $20.72.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Friday, January 24th. The bank reported $0.61 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.75%.

Parke Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were given a dividend of $0.18 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.52%. Parke Bancorp’s payout ratio is 30.90%.

Insiders Place Their Bets

In other news, Director Jeffrey H. Kripitz sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $22.77, for a total value of $227,700.00. Following the completion of the sale, the director now owns 73,013 shares of the company’s stock, valued at approximately $1,662,506.01. This represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

Several institutional investors have recently added to or reduced their stakes in PKBK. BNP Paribas Financial Markets lifted its stake in shares of Parke Bancorp by 56.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock valued at $72,000 after acquiring an additional 1,235 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after purchasing an additional 880 shares during the period. Private Advisor Group LLC bought a new position in shares of Parke Bancorp in the third quarter worth approximately $211,000. Barclays PLC increased its stake in shares of Parke Bancorp by 306.7% in the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock worth $284,000 after buying an additional 10,237 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Parke Bancorp by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock valued at $4,845,000 after buying an additional 1,447 shares during the last quarter. 49.69% of the stock is currently owned by hedge funds and other institutional investors.

Parke Bancorp Company Profile

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.