Parke Bancorp (NASDAQ:PKBK) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Analyst Ratings Changes

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 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 current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average price is $22.23 and its two-hundred day moving average price is $20.03.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Friday, October 18th. The bank reported $0.62 earnings per share for the quarter. The firm had revenue of $15.62 million 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 disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given 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 dividend payout ratio is currently 30.90%.

Insiders Place Their Bets

In other news, Director Jeffrey H. Kripitz sold 10,000 shares of Parke Bancorp stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $22.77, for a total transaction of $227,700.00. Following the transaction, the director now owns 73,013 shares in the company, valued at approximately $1,662,506.01. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Daniel J. Dalton sold 5,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $20.96, for a total value of $104,800.00. Following the completion of the sale, the chairman now owns 71,319 shares of the company’s stock, valued at $1,494,846.24. The trade was a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.52% of the company’s stock.

Institutional Investors Weigh In On Parke Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in shares of Parke Bancorp by 6.7% in the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after acquiring an additional 880 shares during the period. Lakewood Asset Management LLC raised its holdings in Parke Bancorp by 8.2% during the 3rd quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock worth $274,000 after purchasing an additional 997 shares during the last quarter. BNP Paribas Financial Markets lifted its position 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 worth $72,000 after purchasing an additional 1,235 shares during the period. Geode Capital Management LLC boosted its stake in shares of Parke Bancorp by 0.6% in the 3rd 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. increased its position in shares of Parke Bancorp by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock worth $336,000 after buying an additional 1,842 shares during the period. Institutional investors own 49.69% of the company’s stock.

About Parke Bancorp

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.