Parke Bancorp (NASDAQ:PKBK) Downgraded to “Hold” Rating by StockNews.com

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

Parke Bancorp Trading Down 0.1 %

Parke Bancorp stock opened at $18.93 on Friday. Parke Bancorp has a 52-week low of $15.24 and a 52-week high of $24.29. The company has a market cap of $224.19 million, a P/E ratio of 8.34 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The business has a 50-day simple moving average of $19.44 and a two-hundred day simple moving average of $20.72.

Parke Bancorp (NASDAQ:PKBK) last announced its 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 at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 54,353 shares in the company, valued at approximately $1,093,582.36. This trade represents a 10.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 7,160 shares of company stock valued at $143,947. Company insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in Parke Bancorp by 56.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after buying an additional 1,235 shares during the period. Jane Street Group LLC grew its position in shares of Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after purchasing an additional 880 shares in the last quarter. Barclays PLC grew its position in shares of 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 in the last quarter. Geode Capital Management LLC raised its stake in Parke Bancorp by 0.6% during the 3rd 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 period. Finally, JPMorgan Chase & Co. boosted its stake in Parke Bancorp by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock worth $336,000 after purchasing an additional 1,842 shares during the period. 49.69% of the stock is owned by hedge funds and other institutional investors.

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.