Parke Bancorp (NASDAQ:PKBK) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Parke Bancorp (NASDAQ:PKBK) from a buy rating to a hold rating in a research note published on Monday morning.

Parke Bancorp Trading Up 1.7 %

Shares of PKBK opened at $20.44 on Monday. Parke Bancorp has a 1-year low of $15.24 and a 1-year high of $24.29. The firm has a market capitalization of $243.03 million, a price-to-earnings ratio of 8.77 and a beta of 0.73. The firm’s 50-day moving average price is $21.23 and its 200-day moving average price is $20.72. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Friday, January 24th. The bank reported $0.61 earnings per share for the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Friday, January 3rd. Parke Bancorp’s dividend payout ratio (DPR) is presently 30.90%.

Insider Transactions at Parke Bancorp

In related news, Director Jeffrey H. Kripitz sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $22.77, for a total transaction of $227,700.00. Following the sale, the director now owns 73,013 shares of the company’s stock, valued at $1,662,506.01. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC increased its position in Parke Bancorp by 6.7% during the 3rd quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after buying an additional 880 shares in the last quarter. Lakewood Asset Management LLC increased its holdings in shares of Parke Bancorp by 8.2% during the third quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock valued at $274,000 after acquiring an additional 997 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Parke Bancorp by 56.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after purchasing an additional 1,235 shares during the last quarter. Geode Capital Management LLC boosted its stake in Parke Bancorp by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock worth $4,845,000 after purchasing an additional 1,447 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Parke Bancorp by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after purchasing an additional 1,842 shares during the last quarter. 49.69% of the stock is owned by 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.