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

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

Parke Bancorp Trading Down 1.5 %

NASDAQ PKBK opened at $18.50 on Thursday. The company’s fifty day simple moving average is $19.52 and its 200-day simple moving average is $20.76. Parke Bancorp has a 52 week low of $15.24 and a 52 week high of $24.29. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. The stock has a market cap of $219.10 million, a P/E ratio of 8.15 and a beta of 0.73.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings results on Friday, January 24th. The bank reported $0.61 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Insider Buying and Selling

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the sale, the director now owns 54,353 shares in the company, valued at $1,093,582.36. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 7,160 shares of company stock worth $143,947. Insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in 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 purchasing an additional 1,235 shares during the last quarter. Jane Street Group LLC increased its stake in Parke Bancorp by 6.7% during the third 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 during the last quarter. JPMorgan Chase & Co. increased its stake in Parke Bancorp by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after purchasing an additional 1,842 shares during the last quarter. Barclays PLC increased its stake in Parke Bancorp by 306.7% during the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after purchasing an additional 10,237 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Parke Bancorp by 0.6% during the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock valued at $4,845,000 after purchasing an additional 1,447 shares during the last quarter. Institutional investors own 49.69% 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, time, money market, and individual retirement accounts, as well as certificates of deposit.