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

Parke Bancorp (NASDAQ:PKBKGet Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Parke Bancorp Price Performance

NASDAQ:PKBK opened at $22.68 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. Parke Bancorp has a one year low of $19.85 and a one year high of $25.85. The company has a fifty day moving average price of $22.16 and a 200 day moving average price of $23.21. The stock has a market cap of $270.19 million, a P/E ratio of 6.65 and a beta of 0.81.

Parke Bancorp (NASDAQ:PKBKGet Rating) last released its earnings results on Wednesday, July 20th. The bank reported $0.88 earnings per share for the quarter. Parke Bancorp had a net margin of 46.34% and a return on equity of 17.82%. The business had revenue of $20.49 million during the quarter.

Insider Buying and Selling

In other news, Director Celestino R. Pennoni sold 5,000 shares of Parke Bancorp stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $24.10, for a total value of $120,500.00. Following the completion of the transaction, the director now owns 139,856 shares in the company, valued at $3,370,529.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Parke Bancorp news, Director Celestino R. Pennoni sold 5,000 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $24.10, for a total value of $120,500.00. Following the completion of the transaction, the director now directly owns 139,856 shares of the company’s stock, valued at $3,370,529.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Celestino R. Pennoni sold 3,239 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $25.24, for a total transaction of $81,752.36. Following the sale, the director now directly owns 116,617 shares in the company, valued at $2,943,413.08. The disclosure for this sale can be found here. Insiders sold 18,239 shares of company stock worth $445,752 in the last quarter. 17.60% of the stock is owned by corporate insiders.

Institutional Trading of Parke Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cutler Capital Management LLC raised its stake in shares of Parke Bancorp by 2.5% during the first quarter. Cutler Capital Management LLC now owns 286,048 shares of the bank’s stock worth $6,754,000 after buying an additional 7,003 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Parke Bancorp by 5.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 284,378 shares of the bank’s stock worth $6,714,000 after purchasing an additional 13,547 shares during the last quarter. Siena Capital Partners GP LLC grew its stake in shares of Parke Bancorp by 20.4% during the second quarter. Siena Capital Partners GP LLC now owns 144,817 shares of the bank’s stock worth $3,035,000 after purchasing an additional 24,491 shares during the period. Morgan Dempsey Capital Management LLC bought a new stake in Parke Bancorp in the first quarter valued at about $1,554,000. Finally, Commonwealth Equity Services LLC lifted its stake in Parke Bancorp by 184.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 55,516 shares of the bank’s stock valued at $1,181,000 after buying an additional 36,022 shares during the period. 37.18% of the stock is owned by institutional investors.

Parke Bancorp Company Profile

(Get Rating)

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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