Short Interest in Parke Bancorp, Inc. (NASDAQ:PKBK) Increases By 23.0%

Parke Bancorp, Inc. (NASDAQ:PKBK) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 43,300 shares, an increase of 23.0% from the February 28th total of 35,200 shares. Based on an average trading volume of 25,600 shares, the short-interest ratio is currently 1.7 days. Currently, 0.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Parke Bancorp from a “buy” rating to a “hold” rating in a report on Friday.

Insiders Place Their Bets

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 value of $122,752.12. Following the sale, the director now directly owns 54,353 shares in the company, valued at approximately $1,093,582.36. The trade was a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over 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 Investors Weigh In On Parke Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings 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 valued at $72,000 after buying an additional 1,235 shares in the last quarter. Jane Street Group LLC grew its position in Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after acquiring an additional 880 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 acquiring an additional 1,842 shares in the last quarter. Barclays PLC raised its stake in shares of Parke Bancorp by 306.7% during the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock worth $284,000 after acquiring an additional 10,237 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 worth $4,845,000 after acquiring an additional 1,447 shares during the last quarter. Institutional investors own 49.69% of the company’s stock.

Parke Bancorp Price Performance

NASDAQ:PKBK traded down $0.03 during trading hours on Tuesday, hitting $18.81. The stock had a trading volume of 13,608 shares, compared to its average volume of 24,409. The firm has a market capitalization of $222.77 million, a price-to-earnings ratio of 8.29 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. The company has a 50 day simple moving average of $19.40 and a two-hundred day simple moving average of $20.70. Parke Bancorp has a one year low of $15.24 and a one year high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last announced its 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 21.25% and a return on equity of 9.41%.

Parke Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.83%. Parke Bancorp’s payout ratio is 31.72%.

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.