Parke Bancorp (NASDAQ:PKBK) Upgraded to Hold at BidaskClub

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Parke Bancorp (NASDAQ:PKBK) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday, BidAskClub reports.

Separately, ValuEngine cut shares of Parke Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday.

Parke Bancorp stock opened at $23.65 on Tuesday. The stock has a market cap of $254.73 million, a price-to-earnings ratio of 8.96 and a beta of 0.66. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $23.58 and its two-hundred day moving average price is $22.73. Parke Bancorp has a 52 week low of $16.71 and a 52 week high of $24.50.

Parke Bancorp (NASDAQ:PKBK) last released its earnings results on Wednesday, October 23rd. The bank reported $0.71 EPS for the quarter. The firm had revenue of $15.78 million for the quarter. Parke Bancorp had a net margin of 36.47% and a return on equity of 17.81%.

In other news, Director Celestino R. Pennoni sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $23.75, for a total transaction of $118,750.00. Following the completion of the transaction, the director now owns 277,998 shares in the company, valued at approximately $6,602,452.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward Infantolino sold 1,074 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $24.05, for a total transaction of $25,829.70. Following the transaction, the director now owns 35,061 shares of the company’s stock, valued at approximately $843,217.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,574 shares of company stock worth $180,610. 17.82% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in shares of Parke Bancorp during the 3rd quarter valued at about $350,000. State Street Corp boosted its position in shares of Parke Bancorp by 19.6% during the 3rd quarter. State Street Corp now owns 157,808 shares of the bank’s stock valued at $3,506,000 after purchasing an additional 25,846 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Parke Bancorp by 35.2% during the 3rd quarter. First Trust Advisors LP now owns 20,281 shares of the bank’s stock valued at $451,000 after purchasing an additional 5,279 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Parke Bancorp by 9.6% during the 3rd quarter. Rhumbline Advisers now owns 13,300 shares of the bank’s stock valued at $296,000 after purchasing an additional 1,162 shares in the last quarter. Finally, Bowling Portfolio Management LLC bought a new position in shares of Parke Bancorp during the 3rd quarter valued at about $407,000. Institutional investors own 38.71% of the company’s stock.

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, money market, and individual retirement accounts, as well as certificates of deposit.

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