Parke Bancorp (NASDAQ:PKBK) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Technical breakout: Parke Bancorp's stock crossed above its 200-day moving average of $25.49, trading as high as $30.15 and last at $29.88 on volume of 55,153 shares.
• Positive analyst view and solid fundamentals: Weiss Ratings reaffirmed a "Buy" and the stock has an average "Buy" rating; the bank has a market cap of $350.5M, a P/E of 8.54, quarterly EPS of $0.99, and pays a $0.72 annual dividend (yield ~2.4%).
• Insider selling notable: Insiders sold 42,175 shares worth $1.16M in the last 90 days versus 1,700 shares purchased, though insiders still own about 12.97% of the company.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.49 and traded as high as $30.15. Parke Bancorp shares last traded at $29.88, with a volume of 55,153 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parke Bancorp in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

Parke Bancorp Trading Up 0.1%

The firm has a market cap of $350.49 million, a PE ratio of 8.54 and a beta of 0.48. The company's fifty day moving average price is $28.42 and its two-hundred day moving average price is $25.49. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.44.

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

Parke Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.72 annualized dividend and a dividend yield of 2.4%. Parke Bancorp's payout ratio is presently 20.57%.

Insider Activity

In related news, Director Daniel J. Dalton sold 5,000 shares of the firm's stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $27.57, for a total value of $137,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack C. Sheppard, Jr. sold 22,500 shares of the firm's stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $27.03, for a total transaction of $608,175.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders acquired 1,700 shares of company stock worth $47,430 and sold 42,175 shares worth $1,161,181. Corporate insiders own 12.97% of the company's stock.

Institutional Trading of Parke Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management lifted its stake in shares of Parke Bancorp by 8.9% in the first quarter. Ritholtz Wealth Management now owns 12,586 shares of the bank's stock valued at $357,000 after purchasing an additional 1,026 shares during the period. Invesco Ltd. acquired a new stake in shares of Parke Bancorp in the fourth quarter valued at about $247,000. Empowered Funds LLC lifted its stake in shares of Parke Bancorp by 21.9% in the fourth quarter. Empowered Funds LLC now owns 115,728 shares of the bank's stock valued at $2,877,000 after purchasing an additional 20,756 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Parke Bancorp in the fourth quarter valued at about $204,000. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Parke Bancorp by 5.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 118,949 shares of the bank's stock valued at $2,978,000 after purchasing an additional 5,756 shares during the period. Institutional investors and hedge funds own 49.69% of the company's stock.

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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