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

Key Points

• Parke Bancorp's stock price recently crossed above its 200-day moving average, reaching a high of $20.98, while last trading at $20.80.
• The company has announced a quarterly dividend of $0.18, providing an annualized yield of 3.5% and a payout ratio of 28.02%.
• Weiss Ratings has reaffirmed a "buy" rating for Parke Bancorp, contributing to its overall consensus rating of "Buy" from market analysts.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.48 and traded as high as $20.98. Parke Bancorp shares last traded at $20.80, with a volume of 14,266 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "buy (b-)" rating on shares of Parke Bancorp in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy".

Parke Bancorp Stock Performance

The stock's 50-day simple moving average is $21.71 and its 200 day simple moving average is $20.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $246.48 million, a PE ratio of 8.09 and a beta of 0.62.

Parke Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, October 3rd. Parke Bancorp's dividend payout ratio (DPR) is 28.02%.

Insider Activity at Parke Bancorp

In related news, COO Ralph Martin Gallo sold 1,946 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $21.89, for a total value of $42,597.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jonathan D. Hill sold 2,000 shares of the 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 completion of the transaction, the chief financial officer directly owned 8,000 shares in the company, valued at $176,720. This trade represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,909 shares of company stock valued at $195,499 in the last ninety days. Insiders own 12.89% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank's stock valued at $66,000 after buying an additional 999 shares during the last quarter. Militia Capital Partners LP grew its position in shares of Parke Bancorp by 0.8% in the 2nd quarter. Militia Capital Partners LP now owns 118,961 shares of the bank's stock valued at $2,423,000 after buying an additional 1,000 shares during the last quarter. Rhumbline Advisers boosted its stake in Parke Bancorp by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 15,969 shares of the bank's stock worth $325,000 after purchasing an additional 1,051 shares during the period. Empowered Funds LLC boosted its stake in Parke Bancorp by 3.4% during the 1st quarter. Empowered Funds LLC now owns 49,443 shares of the bank's stock worth $932,000 after purchasing an additional 1,644 shares during the period. Finally, CWM LLC boosted its stake in Parke Bancorp by 251.5% during the 3rd quarter. CWM LLC now owns 3,367 shares of the bank's stock worth $73,000 after purchasing an additional 2,409 shares during the period. 49.69% of the stock is 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.

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