Parke Bancorp, Inc. (NASDAQ:PKBK) Short Interest Update

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 52,700 shares, a growth of 21.7% from the March 15th total of 43,300 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 25,500 shares, the days-to-cover ratio is presently 2.1 days.

Parke Bancorp Price Performance

PKBK traded down $0.32 on Friday, hitting $18.75. 14,257 shares of the company's stock were exchanged, compared to its average volume of 24,770. Parke Bancorp has a fifty-two week low of $15.24 and a fifty-two week high of $24.29. The stock has a market cap of $222.06 million, a price-to-earnings ratio of 8.26 and a beta of 0.56. The firm has a 50-day moving average price of $18.66 and a 200-day moving average price of $20.32. 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 posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.65 earnings per share for the quarter. The firm had revenue of $17.43 million for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.84%. Parke Bancorp's dividend payout ratio (DPR) is presently 29.88%.

Insider Activity at Parke Bancorp

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of Parke Bancorp stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total value of $122,752.12. Following the sale, the director now directly owns 54,353 shares in the company, valued at approximately $1,093,582.36. The trade was a 10.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 7,160 shares of company stock valued at $143,947. 15.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Parke Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its holdings in Parke Bancorp by 15.6% in the 4th quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank's stock valued at $204,000 after buying an additional 1,343 shares in the last quarter. Barclays PLC grew its holdings in shares of Parke Bancorp by 306.7% in the third quarter. Barclays PLC now owns 13,575 shares of the bank's stock valued at $284,000 after purchasing an additional 10,237 shares during the period. Jane Street Group LLC grew its holdings in shares of Parke Bancorp by 6.7% in the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank's stock valued at $293,000 after purchasing an additional 880 shares during the period. Rhumbline Advisers increased its position in Parke Bancorp by 5.2% during the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank's stock worth $318,000 after purchasing an additional 767 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Parke Bancorp by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank's stock worth $336,000 after purchasing an additional 1,842 shares during the period. Hedge funds and other institutional investors own 49.69% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Parke Bancorp from a "hold" rating to a "buy" rating in a research note on Monday.

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.