Parke Bancorp (NASDAQ:PKBK) Cut to “Hold” at Wall Street Zen

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

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

Parke Bancorp Stock Up 1.0%

Shares of NASDAQ:PKBK opened at $32.96 on Friday. Parke Bancorp has a 52-week low of $21.10 and a 52-week high of $35.70. The stock has a market cap of $387.61 million, a P/E ratio of 8.42 and a beta of 0.52. The business’s 50 day moving average is $33.29 and its 200 day moving average is $31.32. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.51.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Wednesday, October 21st. The bank reported $1.02 EPS for the quarter. The company had revenue of $24.00 million for the quarter. Parke Bancorp had a return on equity of 14.13% and a net margin of 30.55%.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, October 2nd. Parke Bancorp’s dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling at Parke Bancorp

In related news, CEO Vito Pantilione acquired 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The stock was purchased at an average cost of $32.86 per share, for a total transaction of $42,718.00. Following the purchase, the chief executive officer directly owned 239,629 shares of the company’s stock, valued at $7,874,208.94. This trade represents a 0.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jonathan D. Hill sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.96, for a total transaction of $69,920.00. Following the completion of the transaction, the chief financial officer owned 30 shares of the company’s stock, valued at $1,048.80. This represents a 98.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 12.97% of the company’s stock.

Institutional Trading of Parke Bancorp

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Parke Bancorp during the second quarter worth $26,035,000. Ategra Capital Management LLC acquired a new stake in shares of Parke Bancorp during the 2nd quarter worth approximately $11,402,000. Rhino Investment Partners Inc purchased a new position in Parke Bancorp in the first quarter valued at $6,469,000. Empowered Funds LLC purchased a new position in shares of Parke Bancorp in the 2nd quarter valued at about $5,278,000. Finally, Militia Capital Management LLC purchased a new stake in shares of Parke Bancorp in the first quarter valued at approximately $3,408,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.

About Parke Bancorp

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.