Parke Bancorp (NASDAQ:PKBK) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Parke Bancorp shares moved above their 200-day moving average on Thursday, trading as high as $31.04 and last changing hands at $30.86. The 200-day average was $26.11, suggesting recent momentum in the stock.
• The company posted solid recent results, reporting Q1 EPS of $0.99 on revenue of $22.99 million, with a return on equity of 13.20% and a net margin of 28.04%. Parke Bancorp also pays a quarterly dividend of $0.18 per share, or $0.72 annually, for a 2.3% yield.
• Insider and institutional activity has been positive overall, with CEO Vito S. Pantilione buying 1,300 shares while several funds increased holdings. The stock currently has a consensus Buy rating and a relatively low beta of 0.48.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.11 and traded as high as $31.04. Parke Bancorp shares last traded at $30.86, with a volume of 100,548 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Parke Bancorp in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy".

Parke Bancorp Stock Performance

The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.44. The stock has a market cap of $361.99 million, a P/E ratio of 8.82 and a beta of 0.48. The stock has a fifty day simple moving average of $28.75 and a 200-day simple moving average of $26.11.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its quarterly earnings results on Friday, April 17th. The bank reported $0.99 earnings per share (EPS) for the quarter. Parke Bancorp had a return on equity of 13.20% and a net margin of 28.04%.The company had revenue of $22.99 million during the quarter.

Parke Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, April 2nd. Parke Bancorp's dividend payout ratio is currently 20.57%.

Insider Activity

In other news, insider Nicholas J. Pantilione sold 14,675 shares of the company's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $28.29, for a total transaction of $415,155.75. Following the completion of the transaction, the insider directly owned 1,850 shares of the company's stock, valued at $52,336.50. This represents a 88.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vito S. Pantilione acquired 1,300 shares of Parke Bancorp stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average cost of $30.37 per share, with a total value of $39,481.00. Following the completion of the transaction, the chief executive officer directly owned 237,429 shares of the company's stock, valued at $7,210,718.73. This trade represents a 0.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 2,000 shares of company stock valued at $59,281 over the last ninety days. 12.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PKBK. Marex Group plc acquired a new position in shares of Parke Bancorp during the fourth quarter worth about $11,889,000. Fourthstone LLC raised its holdings in Parke Bancorp by 52.9% during the fourth quarter. Fourthstone LLC now owns 620,899 shares of the bank's stock worth $15,547,000 after acquiring an additional 214,945 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in 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 acquiring an additional 73,505 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Parke Bancorp by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank's stock worth $17,018,000 after acquiring an additional 25,168 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Parke Bancorp during the third quarter worth about $532,000. 49.69% of the stock is owned by institutional investors and hedge funds.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.

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