Parke Bancorp (NASDAQ:PKBK) Rating Lowered to Hold at StockNews.com

Parke Bancorp (NASDAQ:PKBK) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Parke Bancorp Price Performance

Shares of PKBK stock opened at $18.95 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. Parke Bancorp has a 12-month low of $15.24 and a 12-month high of $24.29. The firm has a fifty day moving average of $19.46 and a 200-day moving average of $20.73. The firm has a market capitalization of $224.42 million, a price-to-earnings ratio of 8.35 and a beta of 0.73.

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

Insider Transactions at Parke Bancorp

In other news, Director Jeffrey H. Kripitz sold 6,101 shares of the company’s stock in a transaction dated 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 directly owns 54,353 shares of the company’s stock, valued at $1,093,582.36. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 7,160 shares of company stock valued at $143,947 over the last quarter. Corporate insiders own 15.33% of the company’s stock.

Institutional Investors Weigh In On Parke Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in Parke Bancorp by 56.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after acquiring an additional 1,235 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Parke Bancorp by 15.6% in the fourth 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 in the last quarter. Barclays PLC boosted its holdings in Parke Bancorp by 306.7% during the third 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 last quarter. Jane Street Group LLC grew its position in Parke Bancorp by 6.7% in 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 in the last quarter. Finally, Rhumbline Advisers increased its stake in Parke Bancorp by 5.2% in the 4th 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 last quarter. Institutional investors and hedge funds 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.