Parke Bancorp (NASDAQ:PKBK) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Parke Bancorp shares have recently crossed above their 200-day moving average, trading at $21.14 with a volume of over 19,000 shares.
• Analysts have differing views on the stock, with Weiss Ratings issuing a "buy" rating, while Wall Street Zen downgraded it from "buy" to "hold."
• The company declared a quarterly dividend of $0.18, representing an annual yield of 3.4%, payable to shareholders on October 17th.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.31 and traded as high as $21.30. Parke Bancorp shares last traded at $21.14, with a volume of 19,243 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PKBK shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Parke Bancorp in a report on Saturday, September 27th. Wall Street Zen lowered Parke Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Parke Bancorp has an average rating of "Buy".

Parke Bancorp Trading Up 0.1%

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.23. The business has a fifty day moving average of $21.78 and a 200-day moving average of $20.31. The stock has a market capitalization of $250.51 million, a price-to-earnings ratio of 8.23 and a beta of 0.62.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The bank reported $0.69 earnings per share for the quarter. The company 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 firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a $0.18 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.72 annualized dividend and a yield of 3.4%. Parke Bancorp's payout ratio is 28.02%.

Insider Buying and Selling at Parke Bancorp

In other news, Director Jeffrey H. Kripitz sold 3,363 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.19, for a total transaction of $74,624.97. Following the completion of the sale, the director owned 47,911 shares in the company, valued at approximately $1,063,145.09. This represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ralph Martin Gallo sold 1,946 shares of Parke Bancorp stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $21.89, for a total value of $42,597.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,909 shares of company stock valued at $195,499. Corporate insiders own 15.33% of the company's stock.

Institutional Trading of Parke Bancorp

A number of hedge funds have recently bought and sold shares of PKBK. BNP Paribas Financial Markets increased its position 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 worth $66,000 after acquiring an additional 999 shares in the last quarter. Trexquant Investment LP acquired a new position in Parke Bancorp in the 1st quarter worth approximately $207,000. Jane Street Group LLC purchased a new position in Parke Bancorp during the 1st quarter worth approximately $229,000. Rhumbline Advisers raised its stake in Parke Bancorp by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 15,969 shares of the bank's stock valued at $325,000 after purchasing an additional 1,051 shares during the period. Finally, Millennium Management LLC acquired a new stake in Parke Bancorp during the 4th quarter valued at $413,000. 49.69% of the stock is owned by hedge funds and other 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.

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