Parke Bancorp (NASDAQ:PKBK) Share Price Passes Above Two Hundred 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 Friday . The stock has a two hundred day moving average of $20.03 and traded as high as $20.76. Parke Bancorp shares last traded at $20.68, with a volume of 22,595 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com raised Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 21st.

Parke Bancorp Trading Down 0.2 %

The company’s fifty day simple moving average is $22.22 and its two-hundred day simple moving average is $20.10. The company has a market capitalization of $245.78 million, a price-to-earnings ratio of 8.88 and a beta of 0.71. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.62 EPS for the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%. The business had revenue of $15.62 million for the quarter.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.48%. Parke Bancorp’s payout ratio is 30.90%.

Insiders Place Their Bets

In other news, Chairman Daniel J. Dalton sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $20.96, for a total transaction of $104,800.00. Following the completion of the transaction, the chairman now directly owns 71,319 shares of the company’s stock, valued at $1,494,846.24. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey H. Kripitz sold 10,000 shares of Parke Bancorp stock in a transaction that occurred 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 directly owns 73,013 shares in the company, valued at approximately $1,662,506.01. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its stake in Parke Bancorp by 6.7% in the 3rd quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after buying an additional 880 shares during the last quarter. Lakewood Asset Management LLC increased its position in shares of Parke Bancorp by 8.2% in the third quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock valued at $274,000 after acquiring an additional 997 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after acquiring an additional 1,235 shares in the last quarter. Geode Capital Management LLC boosted its position in Parke Bancorp by 0.6% during the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock valued at $4,845,000 after purchasing an additional 1,447 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Parke Bancorp by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after purchasing an additional 1,842 shares during the last quarter. Institutional investors and hedge funds own 49.69% of the company’s stock.

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.