Parke Bancorp (NASDAQ:PKBK) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Parke Bancorp's stock surpassed its 200-day moving average, trading at $21.18, with a recent high of $21.49.
• Analyst ratings were downgraded from a "buy" to a "hold" by Wall Street Zen, indicating a cautious outlook on the stock.
• The company reported $0.69 earnings per share for its latest quarter, alongside a 3.4% dividend yield with a payout ratio of 28.02%.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.63 and traded as high as $21.49. Parke Bancorp shares last traded at $21.18, with a volume of 63,134 shares traded.

Analyst Ratings Changes

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

Parke Bancorp Stock Down 1.4%

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $253.59 million, a PE ratio of 8.33 and a beta of 0.64. The company has a 50 day moving average price of $20.76 and a 200-day moving average price of $19.68.

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

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.72 annualized dividend and a dividend yield of 3.4%. Parke Bancorp's payout ratio is 28.02%.

Institutional Trading of Parke Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Militia Capital Partners LP lifted its holdings in Parke Bancorp by 0.8% in the second quarter. Militia Capital Partners LP now owns 118,961 shares of the bank's stock worth $2,423,000 after buying an additional 1,000 shares during the period. BNP Paribas Financial Markets grew its stake in Parke Bancorp by 44.4% in the second quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank's stock worth $66,000 after purchasing an additional 999 shares during the period. Bridgeway Capital Management LLC raised its holdings in Parke Bancorp by 2.4% in the second quarter. Bridgeway Capital Management LLC now owns 110,659 shares of the bank's stock worth $2,254,000 after purchasing an additional 2,549 shares in the last quarter. Fourthstone LLC raised its holdings in Parke Bancorp by 243.3% in the second quarter. Fourthstone LLC now owns 200,838 shares of the bank's stock worth $4,091,000 after purchasing an additional 142,334 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Parke Bancorp by 46.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 64,420 shares of the bank's stock worth $1,312,000 after purchasing an additional 20,347 shares in the last quarter. 49.69% of the stock is currently owned by hedge funds and other institutional investors.

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.