Parke Bancorp (NASDAQ:PKBK) Stock Rating Upgraded by StockNews.com

Parke Bancorp (NASDAQ:PKBK - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report released on Monday.

Parke Bancorp Stock Performance

PKBK stock traded down $0.32 during trading on Monday, hitting $18.75. 14,257 shares of the company's stock traded hands, compared to its average volume of 24,784. The stock has a market capitalization of $222.06 million, a price-to-earnings ratio of 8.26 and a beta of 0.56. The stock has a fifty day moving average price of $18.63 and a two-hundred day moving average price of $20.31. Parke Bancorp has a 52 week low of $15.24 and a 52 week high of $24.29. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.65 EPS for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%. The company had revenue of $17.43 million for the quarter.

Insider Activity

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the transaction, the director now owns 54,353 shares in the company, valued at $1,093,582.36. This trade represents a 10.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 7,160 shares of company stock valued at $143,947 over the last 90 days. 15.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC acquired a new stake in shares of Parke Bancorp during the 4th quarter worth about $413,000. Bridgeway Capital Management LLC increased its holdings in Parke Bancorp by 2.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 109,466 shares of the bank's stock valued at $2,245,000 after purchasing an additional 2,333 shares in the last quarter. Citadel Advisors LLC bought a new position in Parke Bancorp in the 4th quarter valued at $617,000. Ategra Capital Management LLC boosted its stake in Parke Bancorp by 52.1% in the fourth quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank's stock worth $7,071,000 after purchasing an additional 118,069 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Parke Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank's stock worth $10,720,000 after purchasing an additional 27,354 shares during the last quarter. 49.69% of the stock is owned by 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.