Parke Bancorp (NASDAQ:PKBK) Stock Lifted to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Parke Bancorp from “Hold” to “Buy,” while Weiss Ratings maintained a “Buy” rating; MarketBeat reports a consensus “Buy” rating.
• PKBK opened at $33.77, near its 52-week high of $35.70, with a market capitalization of approximately $397 million and a price-to-earnings ratio of 8.79. The bank reported quarterly EPS of $1.03, $23.89 million in revenue, a 29.99% net margin, and a 13.88% return on equity.
• Insider ownership stands at 12.97%, with the CEO purchasing 1,300 shares while the CFO sold 2,000 shares. Institutional investors own approximately 49.69% of the company and recently added to or initiated positions.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Parke Bancorp in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Parke Bancorp has a consensus rating of "Buy".

Parke Bancorp Price Performance

PKBK stock opened at $33.77 on Friday. The firm has a 50 day moving average price of $34.04 and a 200-day moving average price of $31.74. Parke Bancorp has a 52-week low of $19.71 and a 52-week high of $35.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $397.14 million, a price-to-earnings ratio of 8.79 and a beta of 0.47.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.03 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 13.88%. The firm had revenue of $23.89 million for the quarter.

Insider Buying and Selling at Parke Bancorp

In other news, CFO Jonathan D. Hill sold 2,000 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.96, for a total value of $69,920.00. Following the completion of the sale, the chief financial officer owned 30 shares in the company, valued at approximately $1,048.80. This trade represents a 98.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vito Pantilione bought 1,300 shares of the stock in a transaction dated Wednesday, July 29th. The stock was purchased at an average price of $33.68 per share, with a total value of $43,784.00. Following the acquisition, the chief executive officer directly owned 237,829 shares in the company, valued at approximately $8,010,080.72. The trade was a 0.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 12.97% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in shares of Parke Bancorp in the second quarter worth approximately $31,000. Byrne Asset Management LLC lifted its holdings in shares of Parke Bancorp by 14.3% in the 2nd quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank's stock worth $106,000 after buying an additional 400 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Parke Bancorp in the second quarter worth about $221,000. Ieq Capital LLC purchased a new stake in shares of Parke Bancorp in the 2nd quarter worth approximately $268,000. Finally, Algert Global LLC increased its holdings in Parke Bancorp by 14.4% during the second quarter. Algert Global LLC now owns 8,126 shares of the bank's stock valued at $269,000 after buying an additional 1,020 shares during the period. Hedge funds and other institutional investors own 49.69% of the company's stock.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-focused financial institution headquartered in Washington Township, New Jersey. The bank serves individuals, families, businesses and organizations in southern New Jersey and the greater Philadelphia area.

Parke Bank provides a range of traditional banking products and services, including consumer and business deposit accounts, residential and commercial real estate lending, construction loans, commercial and industrial loans, and other business financing.

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