Parke Bancorp (NASDAQ:PKBK) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Parke Bancorp, Inc. (NASDAQ:PKBK) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $29.18 and traded as high as $33.49. Parke Bancorp shares last traded at $33.26, with a volume of 44,427 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Parke Bancorp Trading Down 3.8%

The stock has a market cap of $388.56 million, a P/E ratio of 9.55 and a beta of 0.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25. The business’s 50 day simple moving average is $31.80 and its 200 day simple moving average is $29.25.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.99 earnings per share for the quarter. The company had revenue of $22.98 million for the quarter. Parke Bancorp had a return on equity of 13.02% and a net margin of 28.04%.

Parke Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, July 3rd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. Parke Bancorp’s dividend payout ratio (DPR) is 22.86%.

Insider Activity

In other news, CEO Vito S. Pantilione bought 1,300 shares of Parke Bancorp stock in a transaction dated Tuesday, April 28th. The shares were bought at an average price of $30.37 per share, for a total transaction of $39,481.00. Following the purchase, the chief executive officer owned 237,429 shares of the company’s stock, valued at approximately $7,210,718.73. This trade represents a 0.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.97% of the company’s stock.

Institutional Investors Weigh In On Parke Bancorp

Hedge funds have recently made changes to their positions in the company. Fourthstone LLC boosted its position in Parke Bancorp by 52.9% in the fourth quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock valued at $15,547,000 after buying an additional 214,945 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Parke Bancorp by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock worth $17,018,000 after buying an additional 25,168 shares in the last quarter. Marex Group plc bought a new position in shares of Parke Bancorp in the fourth quarter valued at approximately $11,889,000. Ategra Capital Management LLC raised its stake in shares of Parke Bancorp by 1.8% in the third quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank’s stock valued at $9,489,000 after acquiring an additional 7,627 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Parke Bancorp by 83.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock worth $7,471,000 after acquiring an additional 119,274 shares in the last quarter. Institutional investors and hedge funds own 49.69% of the company’s stock.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.