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

Key Points

• Parke Bancorp shares rose above their 200-day moving average, reaching $32.73 and last trading at $32.49, compared with a 200-day average of $32.18.
• Analyst sentiment is favorable: Wall Street Zen upgraded the stock from “hold” to “buy,” Weiss Ratings reiterated a “buy” rating, and MarketBeat reports an overall “Buy” consensus.
• The company reported quarterly earnings of $1.03 per share and announced a $0.20 quarterly dividend, equivalent to an annualized $0.80 payout and a 2.5% yield. Recent insider activity was mixed, with the CFO selling shares while the CEO bought 1,300 shares.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $32.18 and traded as high as $32.73. Parke Bancorp shares last traded at $32.49, with a volume of 28,721 shares changing hands.

Analyst Upgrades and Downgrades

PKBK has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Parke Bancorp from a "hold" rating to a "buy" rating in a report on Sunday, September 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Parke Bancorp in a research note on Monday, September 21st. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company has an average rating of "Buy".

Parke Bancorp Stock Performance

The firm has a market capitalization of $382.08 million, a PE ratio of 8.46 and a beta of 0.51. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. The business's 50 day simple moving average is $33.91 and its two-hundred day simple moving average is $32.18.

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. The firm had revenue of $23.89 million for the quarter. Parke Bancorp had a return on equity of 13.88% and a net margin of 29.99%.

Parke Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, October 2nd. Parke Bancorp's dividend payout ratio is 20.83%.

Insider Transactions at Parke Bancorp

In other Parke Bancorp news, CFO Jonathan D. Hill sold 2,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,048.80. This represents a 98.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vito Pantilione bought 1,300 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was purchased at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the completion of the transaction, the chief executive officer directly owned 237,829 shares of the company's stock, valued at approximately $8,010,080.72. The trade was a 0.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 12.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Parke Bancorp

Several institutional investors have recently made changes to their positions in PKBK. Legal & General Group Plc bought a new stake in Parke Bancorp during the second quarter valued at approximately $31,000. Byrne Asset Management LLC increased its holdings in Parke Bancorp by 14.3% during the second quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank's stock valued at $106,000 after buying an additional 400 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Parke Bancorp during the second quarter valued at approximately $221,000. Bank of America Corp DE increased its holdings in Parke Bancorp by 12.2% during the first quarter. Bank of America Corp DE now owns 9,288 shares of the bank's stock valued at $264,000 after buying an additional 1,008 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in Parke Bancorp in the second quarter worth approximately $268,000. 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-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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