Parke Bancorp (NASDAQ:PKBK) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Parke Bancorp (NASDAQ:PKBK) from a buy rating to a hold rating in a report published on Friday.

Parke Bancorp Stock Performance

Shares of PKBK opened at $18.93 on Friday. The company has a 50-day moving average of $19.44 and a two-hundred day moving average of $20.73. The stock has a market cap of $224.19 million, a price-to-earnings ratio of 8.34 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. Parke Bancorp has a one year low of $15.24 and a one year high of $24.29.

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

Parke Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be paid a $0.18 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.72 annualized dividend and a yield of 3.80%. Parke Bancorp’s dividend payout ratio is presently 31.72%.

Insider Buying and Selling at Parke Bancorp

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total value of $122,752.12. Following the completion of the sale, the director now owns 54,353 shares of the company’s stock, valued at approximately $1,093,582.36. The trade was a 10.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 7,160 shares of company stock valued at $143,947 in the last quarter. Company insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in shares of Parke Bancorp by 56.3% during 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 last quarter. Wells Fargo & Company MN increased its position in Parke Bancorp by 15.6% during the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock worth $204,000 after buying an additional 1,343 shares during the last quarter. Barclays PLC raised its holdings in Parke Bancorp by 306.7% during the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after buying an additional 10,237 shares in the last quarter. Jane Street Group LLC lifted its position 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 buying an additional 880 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Parke Bancorp by 5.2% during the 4th quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after acquiring an additional 767 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors and hedge funds.

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.