Parke Bancorp (NASDAQ:PKBK) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.86 and traded as high as $23.05. Parke Bancorp shares last traded at $22.95, with a volume of 33,560 shares traded.

Wall Street Analysts Forecast Growth

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

Parke Bancorp Stock Performance

The stock has a market cap of $272.52 million, a price-to-earnings ratio of 9.82 and a beta of 0.69. The stock's 50 day moving average is $21.23 and its two-hundred day moving average is $18.86. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its earnings results on Friday, October 18th. The bank reported $0.62 EPS for the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.75%. The company had revenue of $15.62 million during the quarter.

Parke Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Friday, October 4th. Parke Bancorp's dividend payout ratio (DPR) is presently 30.90%.

Insider Transactions at Parke Bancorp

In other news, Chairman Daniel J. Dalton sold 5,000 shares of the firm's 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 completion of the sale, the chairman now owns 71,319 shares in the company, valued at approximately $1,494,846.24. This trade represents a 6.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.52% of the company's stock.

Institutional Trading of Parke Bancorp

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of Parke Bancorp by 1,990.2% in the 3rd quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank's stock valued at $53,000 after purchasing an additional 2,428 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Parke Bancorp by 56.3% in the third 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. Squarepoint Ops LLC acquired a new position in shares of Parke Bancorp in the second quarter valued at approximately $186,000. Quadrature Capital Ltd acquired a new position in shares of Parke Bancorp in the first quarter valued at approximately $198,000. Finally, Private Advisor Group LLC acquired a new position in shares of Parke Bancorp in the third quarter valued at approximately $211,000. Institutional investors and hedge funds own 49.69% of the company's stock.

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.