Parke Bancorp, Inc. (NASDAQ:PKBK – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.02 and traded as high as $18.78. Parke Bancorp shares last traded at $18.24, with a volume of 19,419 shares traded.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on shares of Parke Bancorp in a research note on Thursday, October 5th. They set a “hold” rating for the company.
Parke Bancorp Stock Performance
Parke Bancorp (NASDAQ:PKBK – Get Free Report) last released its earnings results on Wednesday, October 25th. The bank reported $0.68 earnings per share for the quarter. The business had revenue of $17.52 million for the quarter. Parke Bancorp had a return on equity of 13.90% and a net margin of 26.87%.
Parke Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $0.72 annualized dividend and a dividend yield of 4.01%. Parke Bancorp’s dividend payout ratio is presently 28.46%.
Hedge Funds Weigh In On Parke Bancorp
Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Parke Bancorp by 10.6% in the 2nd quarter. BlackRock Inc. now owns 615,054 shares of the bank’s stock valued at $10,450,000 after purchasing an additional 58,706 shares in the last quarter. M3F Inc. lifted its stake in Parke Bancorp by 0.4% in the first quarter. M3F Inc. now owns 539,875 shares of the bank’s stock worth $9,599,000 after acquiring an additional 2,150 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Parke Bancorp by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 370,374 shares of the bank’s stock valued at $6,293,000 after purchasing an additional 16,757 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in Parke Bancorp by 6.6% in the third quarter. Pacific Ridge Capital Partners LLC now owns 363,319 shares of the bank’s stock valued at $5,918,000 after purchasing an additional 22,554 shares during the last quarter. Finally, Cutler Capital Management LLC lifted its position in Parke Bancorp by 1.3% in the second quarter. Cutler Capital Management LLC now owns 305,213 shares of the bank’s stock valued at $5,186,000 after purchasing an additional 3,825 shares during the period. Institutional investors and hedge funds own 43.95% of the company’s stock.
About Parke Bancorp
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.
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