StockNews.com Upgrades Parke Bancorp (NASDAQ:PKBK) to “Buy”

Parke Bancorp (NASDAQ:PKBK) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Parke Bancorp Stock Performance

PKBK traded up $0.24 on Thursday, hitting $18.78. The company’s stock had a trading volume of 20,402 shares, compared to its average volume of 23,178. Parke Bancorp has a 12 month low of $15.24 and a 12 month high of $24.29. The firm has a market cap of $222.41 million, a P/E ratio of 8.27 and a beta of 0.73. 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 company’s 50 day simple moving average is $19.53 and its 200-day simple moving average is $20.77.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a return on equity of 9.41% and a net margin of 21.25%.

Insider Buying and Selling

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the transaction, the director now directly owns 54,353 shares in the company, valued at $1,093,582.36. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 7,160 shares of company stock valued at $143,947. Company insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in Parke Bancorp by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank’s stock valued at $10,720,000 after purchasing an additional 27,354 shares in the last quarter. Ategra Capital Management LLC raised its position in Parke Bancorp by 52.1% during the fourth quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank’s stock valued at $7,071,000 after purchasing an additional 118,069 shares in the last quarter. Geode Capital Management LLC lifted its stake in Parke Bancorp by 0.6% during the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock worth $4,845,000 after purchasing an additional 1,447 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Parke Bancorp by 2.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 109,466 shares of the bank’s stock worth $2,245,000 after purchasing an additional 2,333 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Parke Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock valued at $980,000 after purchasing an additional 2,333 shares during the last quarter. Institutional investors 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.