Parke Bancorp (NASDAQ:PKBK) Rating Increased to Buy at StockNews.com

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

Parke Bancorp Stock Performance

Shares of PKBK stock opened at $20.85 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $249.78 million, a price-to-earnings ratio of 8.95 and a beta of 0.70. Parke Bancorp has a 1 year low of $15.16 and a 1 year high of $22.00. The firm has a fifty day moving average price of $20.48 and a 200-day moving average price of $18.15.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.62 earnings per share (EPS) for the quarter. The business had revenue of $15.62 million during the quarter. Parke Bancorp had a return on equity of 10.19% and a net margin of 17.49%.

Insiders Place Their Bets

In other news, COO Ralph Martin Gallo sold 7,700 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $19.63, for a total transaction of $151,151.00. Following the sale, the chief operating officer now directly owns 404 shares in the company, valued at $7,930.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

Several institutional investors have recently made changes to their positions in PKBK. International Assets Investment Management LLC grew its position in shares of Parke Bancorp by 1,990.2% during the third quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock valued at $53,000 after purchasing an additional 2,428 shares in the last quarter. BNP Paribas Financial Markets increased its position in Parke Bancorp by 80.1% during the first quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock valued at $89,000 after acquiring an additional 2,310 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Parke Bancorp in the 2nd quarter worth about $186,000. Quadrature Capital Ltd bought a new stake in shares of Parke Bancorp during the 1st quarter worth approximately $198,000. Finally, Private Advisor Group LLC bought a new stake in shares of Parke Bancorp during the third quarter worth $211,000. Hedge funds and other 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.