Parke Bancorp, Inc. (NASDAQ:PKBK) Sees Significant Decrease in Short Interest

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) saw a large decrease in short interest in October. As of October 15th, there was short interest totalling 56,500 shares, a decrease of 16.7% from the September 30th total of 67,800 shares. Based on an average daily trading volume, of 18,600 shares, the short-interest ratio is presently 3.0 days. Currently, 0.6% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Parke Bancorp from a "hold" rating to a "buy" rating in a report on Monday, October 21st.

Parke Bancorp Price Performance

Shares of NASDAQ:PKBK traded up $0.57 during midday trading on Monday, hitting $21.31. The company had a trading volume of 11,865 shares, compared to its average volume of 22,776. Parke Bancorp has a twelve month low of $15.24 and a twelve month high of $22.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $255.29 million, a price-to-earnings ratio of 9.19 and a beta of 0.70. The business's 50-day simple moving average is $20.60 and its 200-day simple moving average is $18.24.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.62 earnings per share for the quarter. The company had revenue of $15.62 million during the quarter. Parke Bancorp had a return on equity of 9.81% and a net margin of 22.32%.

Parke Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.38%. Parke Bancorp's dividend payout ratio is currently 30.90%.

Insider Activity at Parke Bancorp

In other Parke Bancorp news, COO Ralph Martin Gallo sold 7,700 shares of the business's stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total transaction of $151,151.00. Following the sale, the chief operating officer now owns 404 shares in the company, valued at approximately $7,930.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Parke Bancorp news, COO Ralph Martin Gallo sold 7,700 shares of the business's stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total transaction of $151,151.00. Following the sale, the chief operating officer now owns 404 shares in the company, valued at approximately $7,930.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Daniel J. Dalton sold 5,000 shares of the business's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $20.96, for a total value of $104,800.00. Following the sale, the chairman now owns 71,319 shares in the company, valued at approximately $1,494,846.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its holdings in Parke Bancorp by 1,990.2% in the third quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank's stock valued at $53,000 after purchasing an additional 2,428 shares during the period. BNP Paribas Financial Markets raised its stake in Parke Bancorp by 80.1% in the first quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank's stock valued at $89,000 after buying an additional 2,310 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Parke Bancorp in the second quarter valued at $186,000. Quadrature Capital Ltd acquired a new stake in Parke Bancorp in the first quarter valued at $198,000. Finally, Private Advisor Group LLC acquired a new stake in Parke Bancorp in the third quarter valued at $211,000. 49.69% of the stock is currently owned by hedge funds and other 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.

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