Parke Bancorp (NASDAQ:PKBK) Receives "Buy (B-)" Rating from Weiss Ratings

Key Points

• Parke Bancorp has received a "Buy (B-)" rating from Weiss Ratings, reaffirming confidence in the company's stock performance.
• The stock opened at $20.65, with a market capitalization of $244.70 million and a P/E ratio of 8.04, while shares have seen a 1-year high of $24.29.
• Insider selling includes CFO Jonathan D. Hill and Director Jeffrey H. Kripitz, who sold shares valued at approximately $118,804 combined, representing decreases in their respective stock positions.

Parke Bancorp (NASDAQ:PKBK - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Parke Bancorp Trading Down 0.5%

Shares of Parke Bancorp stock opened at $20.65 on Wednesday. Parke Bancorp has a 1 year low of $16.94 and a 1 year high of $24.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $244.70 million, a P/E ratio of 8.04 and a beta of 0.62. The company's fifty day moving average is $21.76 and its two-hundred day moving average is $20.35.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The bank reported $0.69 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 22.44% and a return on equity of 10.21%. The company had revenue of $18.69 million for the quarter.

Insiders Place Their Bets

In other Parke Bancorp news, CFO Jonathan D. Hill sold 2,000 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $22.09, for a total transaction of $44,180.00. Following the transaction, the chief financial officer directly owned 8,000 shares of the company's stock, valued at approximately $176,720. This trade represents a 20.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey H. Kripitz sold 3,363 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.19, for a total transaction of $74,624.97. Following the completion of the sale, the director owned 47,911 shares of the company's stock, valued at $1,063,145.09. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,909 shares of company stock valued at $195,499. Insiders own 15.33% of the company's stock.

Institutional Trading of Parke Bancorp

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank's stock worth $66,000 after acquiring an additional 999 shares during the period. Militia Capital Partners LP lifted its stake in shares of Parke Bancorp by 0.8% in the 2nd quarter. Militia Capital Partners LP now owns 118,961 shares of the bank's stock worth $2,423,000 after acquiring an additional 1,000 shares during the period. Rhumbline Advisers lifted its stake in shares of Parke Bancorp by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 15,969 shares of the bank's stock worth $325,000 after acquiring an additional 1,051 shares during the period. Empowered Funds LLC lifted its stake in shares of Parke Bancorp by 3.4% in the 1st quarter. Empowered Funds LLC now owns 49,443 shares of the bank's stock worth $932,000 after acquiring an additional 1,644 shares during the period. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Parke Bancorp by 2.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 110,659 shares of the bank's stock worth $2,254,000 after acquiring an additional 2,549 shares during the period. Institutional investors and hedge funds own 49.69% of the company's stock.

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.

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