Parke Bancorp (NASDAQ:PKBK) Share Price Passes Above 200-Day Moving Average - Here's Why

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.66 and traded as high as $22.75. Parke Bancorp shares last traded at $22.67, with a volume of 47,576 shares trading hands.

Analysts Set New Price Targets

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

Parke Bancorp Stock Performance

The company has a market capitalization of $265.51 million, a P/E ratio of 9.59 and a beta of 0.71. The business has a 50 day moving average of $22.13 and a 200 day moving average of $19.70. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64.

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 (EPS) for the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%. The business had revenue of $15.62 million for the quarter.

Parke Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were given a dividend of $0.18 per share. The ex-dividend date was Friday, October 4th. This represents a $0.72 annualized dividend and a yield of 3.22%. Parke Bancorp's dividend payout ratio (DPR) is currently 30.90%.

Insider Transactions at Parke Bancorp

In other news, Chairman Daniel J. Dalton sold 5,000 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $1,494,846.24. This represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey H. Kripitz sold 10,000 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total transaction of $227,700.00. Following the completion of the sale, the director now owns 73,013 shares of the company's stock, valued at $1,662,506.01. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.33% of the company's stock.

Institutional Trading of Parke Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKBK. International Assets Investment Management LLC grew its stake in shares of Parke Bancorp by 1,990.2% during the third quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank's stock valued at $53,000 after buying an additional 2,428 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Parke Bancorp by 56.3% in the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank's stock worth $72,000 after purchasing an additional 1,235 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Parke Bancorp during the second quarter worth $186,000. Private Advisor Group LLC purchased a new stake in shares of Parke Bancorp during the third quarter valued at $211,000. Finally, Lakewood Asset Management LLC grew its holdings in shares of Parke Bancorp by 8.2% in 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. 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.