Parke Bancorp (NASDAQ:PKBK) Stock Price Passes Above Two Hundred Day Moving Average of $22.17

Parke Bancorp, Inc. (NASDAQ:PKBK) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.17 and traded as high as $21.12. Parke Bancorp shares last traded at $21.12, with a volume of 28 shares traded.

A number of equities research analysts have recently issued reports on the company. BidaskClub lowered Parke Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. ValuEngine lowered Parke Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71. The stock has a market cap of $229.21 million, a price-to-earnings ratio of 8.44 and a beta of 0.70. The company has a fifty day simple moving average of $22.22 and a 200-day simple moving average of $22.17.

Parke Bancorp (NASDAQ:PKBK) last released its earnings results on Monday, July 22nd. The bank reported $0.68 earnings per share (EPS) for the quarter. The company had revenue of $15.06 million during the quarter. Parke Bancorp had a net margin of 36.52% and a return on equity of 17.54%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its position in Parke Bancorp by 53.6% in the 4th quarter. Bank of America Corp DE now owns 5,742 shares of the bank’s stock worth $108,000 after purchasing an additional 2,004 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Parke Bancorp in the 4th quarter valued at approximately $187,000. BNP Paribas Arbitrage SA increased its holdings in Parke Bancorp by 564.3% in the first quarter. BNP Paribas Arbitrage SA now owns 1,468 shares of the bank’s stock worth $31,000 after buying an additional 1,247 shares during the last quarter. SG Americas Securities LLC increased its holdings in Parke Bancorp by 23.7% in the first quarter. SG Americas Securities LLC now owns 7,394 shares of the bank’s stock worth $154,000 after buying an additional 1,417 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in Parke Bancorp during the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 38.05% of the company’s stock.

About Parke Bancorp (NASDAQ:PKBK)

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, money market, and individual retirement accounts, as well as certificates of deposit.

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