Parke Bancorp (NASDAQ:PKBK) Downgraded by StockNews.com to "Hold"

StockNews.com lowered shares of Parke Bancorp (NASDAQ:PKBK - Free Report) from a buy rating to a hold rating in a research note published on Friday morning.

Parke Bancorp Stock Down 0.5 %

Shares of NASDAQ:PKBK traded down $0.09 during midday trading on Friday, reaching $18.84. The company's stock had a trading volume of 51,552 shares, compared to its average volume of 24,452. 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 firm has a 50 day moving average of $19.42 and a 200-day moving average of $20.71. The firm has a market capitalization of $223.12 million, a P/E ratio of 8.30 and a beta of 0.73. Parke Bancorp has a 12-month low of $15.24 and a 12-month high of $24.29.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The bank reported $0.61 earnings per share 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Friday, April 4th. Parke Bancorp's dividend payout ratio (DPR) is presently 31.72%.

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Insiders Place Their Bets

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the sale, the director now directly owns 54,353 shares in the company, valued at approximately $1,093,582.36. This trade represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 7,160 shares of company stock valued at $143,947. 15.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Parke Bancorp

A number of institutional investors have recently made changes to their positions in PKBK. BNP Paribas Financial Markets lifted its position in Parke Bancorp by 56.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank's stock valued at $72,000 after acquiring an additional 1,235 shares in the last quarter. Jane Street Group LLC boosted its position in shares of 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 buying an additional 880 shares during the last quarter. Barclays PLC increased its holdings in Parke Bancorp by 306.7% in the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank's stock worth $284,000 after buying an additional 10,237 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 buying an additional 1,447 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Parke Bancorp by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank's stock worth $336,000 after buying an additional 1,842 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.