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

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 43,300 shares, a growth of 23.0% from the February 28th total of 35,200 shares. Approximately 0.5% of the company's shares are short sold. Based on an average daily volume of 25,600 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Parke Bancorp from a "buy" rating to a "hold" rating in a report on Friday, March 28th.

Parke Bancorp Stock Down 0.8 %

Parke Bancorp stock traded down $0.15 during midday trading on Friday, hitting $17.96. 32,612 shares of the stock were exchanged, compared to its average volume of 24,737. Parke Bancorp has a 1 year low of $15.24 and a 1 year high of $24.29. 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 firm has a market cap of $212.70 million, a P/E ratio of 7.91 and a beta of 0.56. The company has a 50 day moving average price of $19.31 and a two-hundred day moving average price of $20.64.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) 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 return on equity of 9.41% and a net margin of 21.25%.

Parke Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Friday, April 4th. Parke Bancorp's dividend payout ratio is presently 31.72%.

Insider Transactions at Parke Bancorp

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total value of $122,752.12. Following the transaction, the director now owns 54,353 shares in the company, valued at approximately $1,093,582.36. This trade represents a 10.09 % 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 have sold 7,160 shares of company stock worth $143,947 over the last quarter. 15.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Parke Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of PKBK. BNP Paribas Financial Markets grew its position in shares of Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank's stock worth $72,000 after acquiring an additional 1,235 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Parke Bancorp by 15.6% in the 4th 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 in the last quarter. Barclays PLC raised its stake in Parke Bancorp by 306.7% during the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank's stock valued at $284,000 after acquiring an additional 10,237 shares in the last quarter. Jane Street Group LLC boosted its position in Parke Bancorp by 6.7% during the 3rd quarter. Jane Street Group LLC now owns 14,037 shares of the bank's stock worth $293,000 after acquiring an additional 880 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Parke Bancorp by 5.2% in the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank's stock worth $318,000 after purchasing 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.