Parke Bancorp (NASDAQ:PKBK) Stock Passes Above 200 Day Moving Average - Time to Sell?

Shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $20.03 and traded as high as $20.76. Parke Bancorp shares last traded at $20.68, with a volume of 22,595 shares changing hands.

Analysts Set New Price Targets

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

Parke Bancorp Stock Performance

The company's 50 day moving average price is $22.22 and its 200-day moving average price is $20.07. The stock has a market cap of $245.78 million, a P/E ratio of 8.88 and a beta of 0.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27.

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 net margin of 22.32% and a return on equity of 9.75%. The business had revenue of $15.62 million during the quarter.

Parke Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, January 3rd. Parke Bancorp's payout ratio is 30.90%.

Insiders Place Their Bets

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 10,000 shares of Parke Bancorp stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $22.77, for a total value of $227,700.00. Following the sale, the director now owns 73,013 shares of the company's stock, valued at approximately $1,662,506.01. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Daniel J. Dalton sold 5,000 shares of the business's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $20.96, for a total transaction of $104,800.00. Following the completion of the transaction, the chairman now owns 71,319 shares in the company, valued at approximately $1,494,846.24. The trade was a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.52% of the company's stock.

Institutional Trading of Parke Bancorp

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Parke Bancorp by 56.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank's stock valued at $72,000 after buying an additional 1,235 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Parke Bancorp during the third quarter valued at about $211,000. Bank of New York Mellon Corp lifted its holdings in 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 valued at $999,000 after purchasing an additional 4,076 shares during the last quarter. International Assets Investment Management LLC boosted its position in 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 worth $53,000 after purchasing an additional 2,428 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Parke Bancorp in the second quarter worth about $186,000. 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.