Parke Bancorp (NASDAQ:PKBK) Rating Increased to Buy at StockNews.com

Parke Bancorp (NASDAQ:PKBK - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Monday.

Parke Bancorp Stock Down 1.9 %

PKBK traded down $0.40 during trading on Monday, hitting $20.85. The stock had a trading volume of 13,729 shares, compared to its average volume of 23,041. The company has a market capitalization of $249.78 million, a PE ratio of 11.65 and a beta of 0.70. Parke Bancorp has a twelve month low of $15.16 and a twelve month high of $22.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50 day simple moving average of $20.44 and a two-hundred day simple moving average of $18.12.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its earnings results 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 net margin of 17.49% and a return on equity of 10.19%.

Insider Transactions at Parke Bancorp

In other news, COO Ralph Martin Gallo sold 7,700 shares of Parke Bancorp stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $19.63, for a total transaction of $151,151.00. Following the completion of the sale, the chief operating officer now directly owns 404 shares in the company, valued at approximately $7,930.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 15.52% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PKBK. BNP Paribas Financial Markets raised its holdings in shares of Parke Bancorp by 80.1% during the first quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank's stock worth $89,000 after purchasing an additional 2,310 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Parke Bancorp during the second quarter worth $186,000. Quadrature Capital Ltd purchased a new position in shares of Parke Bancorp during the first quarter worth $198,000. Lakewood Asset Management LLC raised its holdings in shares of Parke Bancorp by 8.2% during the third quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank's stock worth $274,000 after purchasing an additional 997 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Parke Bancorp by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank's stock worth $999,000 after purchasing an additional 4,076 shares during the last quarter. Hedge funds and other institutional investors own 49.69% of the company's stock.

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.

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