Parke Bancorp (NASDAQ:PKBK) Stock Rating Lowered by StockNews.com

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

Parke Bancorp Price Performance

NASDAQ PKBK opened at $20.12 on Monday. The company has a market cap of $239.23 million, a PE ratio of 8.64 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. Parke Bancorp has a 52-week low of $15.24 and a 52-week high of $24.29. The firm’s 50 day moving average price is $21.33 and its 200-day moving average price is $20.70.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.58%. Parke Bancorp’s payout ratio is 30.90%.

Insider Activity at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 10,000 shares of Parke Bancorp stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total transaction 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. The trade was a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Parke Bancorp by 12.9% in the 3rd 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. Barclays PLC boosted its holdings in shares of Parke Bancorp by 306.7% in the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after acquiring an additional 10,237 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Parke Bancorp by 0.6% in the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock worth $4,845,000 after acquiring an additional 1,447 shares during the period. Jane Street Group LLC raised its holdings 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 worth $293,000 after purchasing an additional 880 shares during the last quarter. Finally, Fourthstone LLC lifted its position in Parke Bancorp by 11.8% during the third quarter. Fourthstone LLC now owns 26,957 shares of the bank’s stock valued at $563,000 after purchasing an additional 2,844 shares during the period. 49.69% of the stock is currently owned by hedge funds and other institutional investors.

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.