Parke Bancorp (NASDAQ:PKBK) Stock Passes Above 200 Day Moving Average – Time to Sell?

Parke Bancorp, Inc. (NASDAQ:PKBK) shares passed 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 trading hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 21st.

Parke Bancorp Price Performance

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average price is $22.22 and its 200 day moving average price is $20.10. The firm has a market cap of $245.78 million, a price-to-earnings ratio of 8.88 and a beta of 0.71.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.62 EPS for the quarter. The company had revenue of $15.62 million during the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%.

Parke Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, January 3rd. Parke Bancorp’s payout ratio is 30.90%.

Insider Activity

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 10,000 shares of Parke Bancorp stock in a transaction on 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 transaction, the director now directly owns 73,013 shares of the company’s stock, valued at approximately $1,662,506.01. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Daniel J. Dalton sold 5,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $20.96, for a total transaction of $104,800.00. Following the completion of the sale, the chairman now owns 71,319 shares in the company, valued at $1,494,846.24. This represents a 6.55 % decrease in their position. The disclosure for this sale can be found here. 15.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Parke Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings 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 worth $53,000 after buying an additional 2,428 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Parke Bancorp by 56.3% in the third 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 during the period. Squarepoint Ops LLC bought a new position in Parke Bancorp in the second quarter valued at approximately $186,000. Private Advisor Group LLC acquired a new stake in Parke Bancorp during the 3rd quarter worth $211,000. Finally, Lakewood Asset Management LLC raised its position in shares of Parke Bancorp by 8.2% during the 3rd quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock valued at $274,000 after acquiring an additional 997 shares during the last quarter. 49.69% of the stock is owned by institutional investors.

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.