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Parke Bancorp (NASDAQ:PKBK) Stock Rating Lowered by Wall Street Zen

Parke Bancorp logo with Finance background

Wall Street Zen lowered shares of Parke Bancorp (NASDAQ:PKBK - Free Report) from a buy rating to a hold rating in a report published on Friday.

Parke Bancorp Trading Down 0.1%

Shares of PKBK stock traded down $0.02 on Friday, reaching $19.57. 12,430 shares of the stock were exchanged, compared to its average volume of 23,625. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. Parke Bancorp has a one year low of $15.24 and a one year high of $24.29. The stock has a market cap of $231.77 million, a PE ratio of 8.62 and a beta of 0.57. The stock has a 50 day moving average price of $18.88 and a 200 day moving average price of $19.97.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.65 EPS for the quarter. The firm had revenue of $17.43 million during the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Friday, April 4th. Parke Bancorp's dividend payout ratio is currently 29.88%.

Institutional Investors Weigh In On Parke Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Parke Bancorp by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank's stock valued at $336,000 after purchasing an additional 1,842 shares during the period. Rhumbline Advisers grew its holdings in shares of 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 buying an additional 767 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Parke Bancorp by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank's stock valued at $10,720,000 after buying an additional 27,354 shares during the last quarter. Empowered Funds LLC lifted its stake in Parke Bancorp by 5.1% in the 4th quarter. Empowered Funds LLC now owns 47,799 shares of the bank's stock valued at $980,000 after acquiring an additional 2,333 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Parke Bancorp in the 4th quarter valued at approximately $617,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.

About Parke Bancorp

(Get Free Report)

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.

Further Reading

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