Parke Bancorp (NASDAQ:PKBK) Rating Lowered to Hold at Wall Street Zen

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

Parke Bancorp Price Performance

Shares of Parke Bancorp stock traded up $0.05 on Friday, reaching $19.22. The company's stock had a trading volume of 4,647 shares, compared to its average volume of 23,503. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $227.62 million, a P/E ratio of 8.47 and a beta of 0.57. The stock has a 50-day moving average price of $18.89 and a 200-day moving average price of $19.92. Parke Bancorp has a 52-week low of $15.24 and a 52-week high of $24.29.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.65 earnings per share (EPS) 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. Investors of record on Friday, April 4th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.75%. Parke Bancorp's dividend payout ratio (DPR) is presently 29.88%.

Institutional Investors Weigh In On Parke Bancorp

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Parke Bancorp by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank's stock valued at $10,720,000 after acquiring an additional 27,354 shares in the last quarter. Ategra Capital Management LLC lifted its holdings in Parke Bancorp by 52.1% in the 4th quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank's stock valued at $7,071,000 after purchasing an additional 118,069 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Parke Bancorp by 2.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 109,466 shares of the bank's stock worth $2,245,000 after purchasing an additional 2,333 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Parke Bancorp by 228.3% during the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank's stock worth $1,991,000 after buying an additional 73,505 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Parke Bancorp by 3.4% in the first quarter. Empowered Funds LLC now owns 49,443 shares of the bank's stock valued at $932,000 after buying an additional 1,644 shares during the last quarter. 49.69% of the stock is currently 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.