Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Parke Bancorp's share price recently surpassed its 200-day moving average, reaching as high as $22.82 before settling at $22.55 with a market cap of $267.22 million.
• Analysts at Wall Street Zen have downgraded the stock from a "buy" to a "hold" rating, indicating a cautious outlook on its performance.
• The company declared a quarterly dividend of $0.18 per share, with an annualized yield of 3.2% and a payout ratio of 28.02%.

Shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.84 and traded as high as $22.82. Parke Bancorp shares last traded at $22.55, with a volume of 41,140 shares changing hands.

Analyst Ratings Changes

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

Parke Bancorp Price Performance

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The firm's 50 day simple moving average is $21.51 and its 200 day simple moving average is $19.91. The company has a market capitalization of $266.27 million, a PE ratio of 8.74 and a beta of 0.64.

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

Parke Bancorp Announces Dividend

The business 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Parke Bancorp's payout ratio is currently 28.02%.

Insider Activity

In other news, Director Jeffrey H. Kripitz sold 3,363 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $22.19, for a total transaction of $74,624.97. Following the completion of the sale, the director directly owned 47,911 shares of the company's stock, valued at approximately $1,063,145.09. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jonathan D. Hill sold 2,000 shares of the business'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 sale, the chief financial officer directly owned 8,000 shares of the company's stock, valued at $176,720. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,909 shares of company stock valued at $195,499. 15.33% of the stock is currently owned by company insiders.

Institutional Trading of Parke Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in shares of Parke Bancorp by 44.4% in the second quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank's stock valued at $66,000 after acquiring an additional 999 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Parke Bancorp by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank's stock valued at $204,000 after acquiring an additional 1,343 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Parke Bancorp in the first quarter valued at about $207,000. Jane Street Group LLC bought a new stake in shares of Parke Bancorp in the first quarter valued at about $229,000. Finally, Barclays PLC raised its holdings in shares of Parke Bancorp by 16.3% in the fourth quarter. Barclays PLC now owns 15,794 shares of the bank's stock valued at $324,000 after acquiring an additional 2,219 shares in the last quarter. 49.69% of the stock is currently owned by 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.