Parke Bancorp (NASDAQ:PKBK) Upgraded to Buy at StockNews.com

Parke Bancorp (NASDAQ:PKBK - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Thursday.

Parke Bancorp Stock Performance

PKBK stock traded up $0.32 during trading on Thursday, reaching $18.82. The company had a trading volume of 14,430 shares, compared to its average volume of 23,393. The company has a market cap of $222.89 million, a price-to-earnings ratio of 8.29 and a beta of 0.73. Parke Bancorp has a twelve month low of $15.24 and a twelve month high of $24.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a 50-day simple moving average of $19.51 and a 200-day simple moving average of $20.76.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Insider Buying and Selling at Parke Bancorp

In other news, Director Jeffrey H. Kripitz sold 6,101 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total value of $122,752.12. Following the sale, the director now owns 54,353 shares in the company, valued at $1,093,582.36. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 7,160 shares of company stock worth $143,947. Company insiders own 15.33% of the company's stock.

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Institutional Investors Weigh In On Parke Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in shares of Parke Bancorp by 5.2% during the 4th quarter. Rhumbline Advisers now owns 15,495 shares of the bank's stock valued at $318,000 after buying an additional 767 shares during the last quarter. Jane Street Group LLC grew its holdings in Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank's stock worth $293,000 after acquiring an additional 880 shares during the period. BNP Paribas Financial Markets raised its position in Parke Bancorp by 56.3% during the third 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. Wells Fargo & Company MN lifted its holdings in Parke Bancorp by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank's stock valued at $204,000 after acquiring an additional 1,343 shares during the period. Finally, Geode Capital Management LLC boosted its position 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 purchasing an additional 1,447 shares in the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

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.