Parke Bancorp (NASDAQ:PKBK) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Parke Bancorp (NASDAQ:PKBK) moved above its 200-day moving average, trading as high as $33.49 and last changing hands at $33.26. The breakout came on volume of 44,427 shares.
• The stock is getting a favorable read from analysts, with Weiss Ratings reaffirming a “buy (b)” rating and MarketBeat showing an overall average rating of “Buy.”
• Parke Bancorp recently boosted its quarterly dividend to $0.20 per share from $0.18, implying an annualized payout of $0.80 and a 2.4% yield. The company also reported solid quarterly results, including $0.99 EPS and $22.98 million in revenue.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.18 and traded as high as $33.49. Parke Bancorp shares last traded at $33.26, with a volume of 44,427 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy".

Parke Bancorp Price Performance

The company has a market cap of $390.17 million, a price-to-earnings ratio of 9.50 and a beta of 0.48. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company's fifty day moving average price is $31.73 and its two-hundred day moving average price is $29.18.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.99 EPS for the quarter. The business had revenue of $22.98 million for the quarter. Parke Bancorp had a net margin of 28.04% and a return on equity of 13.02%.

Parke Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be given a $0.20 dividend. This is a boost from Parke Bancorp's previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, July 2nd. Parke Bancorp's payout ratio is presently 22.86%.

Insider Activity at Parke Bancorp

In other Parke Bancorp news, CEO Vito S. Pantilione bought 1,300 shares of Parke Bancorp stock in a transaction that occurred on Tuesday, April 28th. The stock was acquired at an average price of $30.37 per share, for a total transaction of $39,481.00. Following the completion of the acquisition, the chief executive officer owned 237,429 shares of the company's stock, valued at $7,210,718.73. This trade represents a 0.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Parke Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marex Group plc bought a new position in shares of Parke Bancorp in the 4th quarter valued at about $11,889,000. Rhino Investment Partners Inc bought a new stake in shares of Parke Bancorp in the 1st quarter valued at about $6,469,000. Fourthstone LLC lifted its stake in Parke Bancorp by 52.9% in the 4th quarter. Fourthstone LLC now owns 620,899 shares of the bank's stock valued at $15,547,000 after purchasing an additional 214,945 shares during the last quarter. Militia Capital Management LLC acquired a new stake in Parke Bancorp in the 1st quarter valued at about $3,408,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Parke Bancorp by 83.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank's stock valued at $7,471,000 after purchasing an additional 119,274 shares during the last quarter. Institutional investors own 49.69% of the company's stock.

About Parke Bancorp

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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