Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above Two Hundred Day Moving Average of $22.84

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Parke Bancorp, Inc. (NASDAQ:PKBK)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.84 and traded as high as $24.34. Parke Bancorp shares last traded at $24.09, with a volume of 2,677 shares.

Several research firms recently weighed in on PKBK. BidaskClub raised shares of Parke Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. ValuEngine downgraded shares of Parke Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 3rd.

The firm has a market cap of $255.27 million, a price-to-earnings ratio of 8.88 and a beta of 0.66. The firm’s fifty day moving average is $23.70 and its two-hundred day moving average is $22.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.17.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.71 earnings per share for the quarter. The business had revenue of $15.78 million during the quarter. Parke Bancorp had a net margin of 36.47% and a return on equity of 17.81%.

In other Parke Bancorp news, Director Celestino R. Pennoni sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $23.75, for a total value of $118,750.00. Following the completion of the sale, the director now directly owns 277,998 shares of the company’s stock, valued at approximately $6,602,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward Infantolino sold 1,074 shares of the company’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 completion of the sale, the director now directly owns 35,061 shares of the company’s stock, valued at $843,217.05. The disclosure for this sale can be found here. Insiders sold 7,574 shares of company stock valued at $180,610 in the last ninety days. Corporate insiders own 17.82% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PKBK. Acadian Asset Management LLC lifted its holdings in Parke Bancorp by 61.7% in the 2nd quarter. Acadian Asset Management LLC now owns 2,434 shares of the bank’s stock valued at $58,000 after acquiring an additional 929 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Parke Bancorp by 8.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,987 shares of the bank’s stock valued at $164,000 after acquiring an additional 521 shares during the last quarter. Rhumbline Advisers lifted its holdings in Parke Bancorp by 9.6% in the 3rd quarter. Rhumbline Advisers now owns 13,300 shares of the bank’s stock valued at $296,000 after acquiring an additional 1,162 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Parke Bancorp in the 2nd quarter valued at about $314,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Parke Bancorp in the 3rd quarter valued at about $350,000. 38.71% of the stock is owned by institutional investors.

About Parke Bancorp (NASDAQ:PKBK)

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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