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

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

Parke Bancorp Price Performance

Shares of NASDAQ:PKBK traded up $0.12 during midday trading on Monday, hitting $20.12. 31,348 shares of the stock were exchanged, compared to its average volume of 23,066. Parke Bancorp has a twelve month low of $15.24 and a twelve month high of $24.29. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average price of $21.33 and a 200-day moving average price of $20.70. The stock has a market cap of $239.23 million, a P/E ratio of 8.64 and a beta of 0.73.

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 net margin of 22.32% and a return on equity of 9.75%.

Insider Activity

In other news, Director Jeffrey H. Kripitz sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $22.77, for a total value of $227,700.00. Following the completion of the transaction, the director now owns 73,013 shares of the company's stock, valued at $1,662,506.01. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 15.33% of the company's stock.

Institutional Trading of Parke Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of PKBK. Dimensional Fund Advisors LP boosted its holdings in shares of Parke Bancorp by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank's stock worth $8,309,000 after purchasing an additional 22,374 shares during the last quarter. Geode Capital Management LLC lifted its position in Parke Bancorp by 0.6% during the third 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 during the period. Empowered Funds LLC boosted its stake in Parke Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 45,466 shares of the bank's stock worth $950,000 after buying an additional 2,278 shares during the last quarter. Fourthstone LLC grew its holdings in Parke Bancorp by 11.8% in the 3rd quarter. Fourthstone LLC now owns 26,957 shares of the bank's stock valued at $563,000 after buying an additional 2,844 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Parke Bancorp by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank's stock valued at $336,000 after acquiring an additional 1,842 shares during the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

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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