Parke Bancorp (NASDAQ:PKBK) Upgraded at StockNews.com

Parke Bancorp (NASDAQ:PKBK) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Parke Bancorp Trading Up 1.3 %

Parke Bancorp stock traded up $0.24 during mid-day trading on Thursday, hitting $18.78. The company’s stock had a trading volume of 20,402 shares, compared to its average volume of 23,178. The business has a 50 day moving average price of $19.53 and a 200-day moving average price of $20.77. Parke Bancorp has a 12 month low of $15.24 and a 12 month high of $24.29. The stock has a market cap of $222.41 million, a price-to-earnings ratio of 8.27 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27.

Parke Bancorp (NASDAQ:PKBK) last issued 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 9.41% and a net margin of 21.25%.

Insider Activity at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the transaction, the director now owns 54,353 shares of the company’s stock, valued at $1,093,582.36. This represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 7,160 shares of company stock worth $143,947 in the last three months. 15.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Parke Bancorp

A number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings in shares of Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock valued at $72,000 after acquiring an additional 1,235 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Parke Bancorp by 15.6% in the 4th quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock worth $204,000 after purchasing an additional 1,343 shares during the period. Barclays PLC lifted its position in shares of Parke Bancorp by 306.7% in the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank’s stock worth $284,000 after purchasing an additional 10,237 shares during the period. Jane Street Group LLC boosted its stake in shares of 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 purchasing an additional 880 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Parke Bancorp by 5.2% during the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock valued at $318,000 after buying an additional 767 shares during the period. 49.69% of the stock is currently 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.