Parke Bancorp (NASDAQ:PKBK) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Parke Bancorp (NASDAQ:PKBK) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Parke Bancorp in a research note on Monday, September 21st. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, Parke Bancorp currently has a consensus rating of “Buy”.

Parke Bancorp Stock Performance

PKBK stock opened at $32.62 on Friday. The business’s fifty day moving average is $33.31 and its 200-day moving average is $31.29. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.50. The company has a market cap of $384.26 million, a P/E ratio of 8.22 and a beta of 0.52. Parke Bancorp has a twelve month low of $21.10 and a twelve month high of $35.70.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Wednesday, October 21st. The bank reported $1.02 earnings per share (EPS) for the quarter. Parke Bancorp had a return on equity of 13.91% and a net margin of 30.55%. The business had revenue of $24.00 million for the quarter.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were issued a dividend of $0.20 per share. The ex-dividend date was Friday, October 2nd. This represents a $0.80 annualized dividend and a yield of 2.5%. Parke Bancorp’s payout ratio is currently 20.15%.

Insider Activity

In other Parke Bancorp news, CEO Vito Pantilione purchased 1,300 shares of the company’s stock in a transaction dated Thursday, October 29th. The shares were bought at an average price of $32.86 per share, with a total value of $42,718.00. Following the completion of the transaction, the chief executive officer directly owned 239,629 shares in the company, valued at $7,874,208.94. This trade represents a 0.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jonathan D. Hill sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.96, for a total value of $69,920.00. Following the sale, the chief financial officer directly owned 30 shares in the company, valued at approximately $1,048.80. This represents a 98.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 12.97% of the stock is owned by corporate insiders.

Institutional Trading of Parke Bancorp

Several hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its holdings in shares of Parke Bancorp by 83.0% during the first 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 during the period. Pinnacle Holdings LLC bought a new stake in Parke Bancorp in the 2nd quarter valued at $1,656,000. Bank of New York Mellon Corp bought a new stake in Parke Bancorp in the 2nd quarter valued at $1,233,000. Militia Capital Management LLC acquired a new position in Parke Bancorp in the 1st quarter worth $3,408,000. Finally, Sei Investments Co. acquired a new position in Parke Bancorp in the 1st quarter worth $1,602,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community bank headquartered in Sewell, New Jersey. Through Parke Bank, the company provides banking and financial services to individuals, businesses and organizations in southern New Jersey and the greater Philadelphia area.

Parke Bank’s products and services include checking and savings accounts, certificates of deposit, online and mobile banking, residential mortgages, home equity financing, consumer loans and commercial lending.