Parke Bancorp (NASDAQ:PKBK) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.46 and traded as high as $21.40. Parke Bancorp shares last traded at $21.33, with a volume of 27,236 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Parke Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, June 7th.

Parke Bancorp Stock Up 1.3%

The stock has a 50-day moving average price of $19.60 and a 200-day moving average price of $19.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $252.55 million, a P/E ratio of 8.85 and a beta of 0.58.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.65 earnings per share for the quarter. The business had revenue of $17.43 million during the quarter. Parke Bancorp had a net margin of 21.82% and a return on equity of 9.76%.

Parke Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, July 3rd. Parke Bancorp's dividend payout ratio is presently 29.88%.

Institutional Trading of Parke Bancorp

A number of institutional investors have recently bought and sold shares of the company. Militia Capital Partners LP lifted its stake in shares of Parke Bancorp by 1.7% in the 1st quarter. Militia Capital Partners LP now owns 117,961 shares of the bank's stock valued at $2,222,000 after purchasing an additional 2,000 shares during the period. Strs Ohio acquired a new stake in Parke Bancorp during the first quarter worth approximately $494,000. Jane Street Group LLC bought a new stake in Parke Bancorp in the first quarter worth approximately $229,000. Empowered Funds LLC lifted its stake in 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 period. Finally, Goldman Sachs Group Inc. lifted its stake in Parke Bancorp by 228.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank's stock valued at $1,991,000 after buying an additional 73,505 shares during the period. Institutional investors own 49.69% of the company's stock.

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.

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