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

Key Points

• Parke Bancorp shares crossed above their 200-day moving average, reaching $33.32 before closing near $32.82. The stock’s consensus analyst rating is “Buy,” based on one analyst rating and recent upgrades.
• The bank reported $1.03 in quarterly EPS on $23.89 million in revenue, with a 29.99% net margin and 13.88% return on equity.
• Parke Bancorp paid a quarterly dividend of $0.20, equivalent to an annualized $0.80 dividend and a 2.4% yield. Institutional investors own 49.69% of the shares, while insiders own 12.97%.

Shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $32.35 and traded as high as $33.32. Parke Bancorp shares last traded at $32.82, with a volume of 56,493 shares trading hands.

Analysts Set New Price Targets

PKBK has been the subject of a number of recent research reports. Wall Street Zen raised Parke Bancorp from a "hold" rating to a "buy" rating in a report on Sunday, September 27th. Weiss Ratings restated a "buy (b)" rating on shares of Parke Bancorp in a report on Monday, September 21st. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Parke Bancorp Stock Performance

The company's 50 day moving average price is $33.69 and its 200-day moving average price is $32.35. The stock has a market cap of $385.96 million, a P/E ratio of 8.55 and a beta of 0.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.25 and a current ratio of 1.25.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.03 earnings per share for the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 13.88%. The company had revenue of $23.89 million for the quarter.

Parke Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were paid a $0.20 dividend. The ex-dividend date was Friday, October 2nd. This represents a $0.80 annualized dividend and a yield of 2.4%. Parke Bancorp's dividend payout ratio (DPR) is 20.83%.

Insider Activity

In other news, CFO Jonathan D. Hill sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.96, for a total value of $69,920.00. Following the transaction, the chief financial officer owned 30 shares in the company, valued at $1,048.80. The trade was a 98.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vito S. Pantilione bought 1,300 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was acquired at an average price of $33.68 per share, for a total transaction of $43,784.00. Following the purchase, the chief executive officer directly owned 237,829 shares in the company, valued at approximately $8,010,080.72. The trade was a 0.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 12.97% of the company's stock.

Institutional Trading of Parke Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC bought a new stake in shares of Parke Bancorp during the 2nd quarter worth $221,000. Pale Fire Capital SE purchased a new position in shares of Parke Bancorp in the 2nd quarter worth about $286,000. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Parke Bancorp by 53.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 12,543 shares of the bank's stock worth $416,000 after buying an additional 4,348 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Parke Bancorp in the 2nd quarter worth about $331,000. Finally, Empowered Funds LLC bought a new position in Parke Bancorp during the second quarter valued at about $5,278,000. 49.69% of the stock is owned by hedge funds and other institutional investors.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-focused commercial bank headquartered in Washington Township, New Jersey. Founded in 1999, the company serves individuals, businesses and organizations in southern New Jersey and the greater Philadelphia metropolitan area.

Parke Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include commercial real estate loans, construction and development financing, commercial business loans, residential mortgages and consumer loans.

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