ValuEngine cut shares of Parke Bancorp (NASDAQ:PKBK) from a hold rating to a sell rating in a research note issued to investors on Thursday, ValuEngine reports.
Separately, BidaskClub downgraded shares of Parke Bancorp from a buy rating to a hold rating in a report on Thursday, July 4th.
Parke Bancorp stock traded down $0.76 during mid-day trading on Thursday, hitting $21.98. The stock had a trading volume of 203 shares, compared to its average volume of 13,709. The stock has a market cap of $244.68 million, a price-to-earnings ratio of 9.02 and a beta of 0.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.16 and a quick ratio of 1.16. The company has a 50 day moving average of $23.68. Parke Bancorp has a one year low of $16.71 and a one year high of $24.45.
The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a $0.16 dividend. The ex-dividend date was Thursday, July 11th. This represents a $0.64 annualized dividend and a yield of 2.91%. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.14.
In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $21.52, for a total value of $86,080.00. Following the sale, the director now owns 195,043 shares in the company, valued at approximately $4,197,325.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.82% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. NJ State Employees Deferred Compensation Plan lifted its stake in Parke Bancorp by 9.1% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the bank’s stock worth $287,000 after purchasing an additional 1,000 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Parke Bancorp by 564.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,468 shares of the bank’s stock worth $31,000 after purchasing an additional 1,247 shares in the last quarter. SG Americas Securities LLC lifted its stake in Parke Bancorp by 23.7% in the 1st quarter. SG Americas Securities LLC now owns 7,394 shares of the bank’s stock worth $154,000 after purchasing an additional 1,417 shares in the last quarter. Northern Trust Corp lifted its stake in Parke Bancorp by 2.1% in the 4th quarter. Northern Trust Corp now owns 76,443 shares of the bank’s stock worth $1,431,000 after purchasing an additional 1,541 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its stake in Parke Bancorp by 4.1% in the 1st quarter. Wedbush Securities Inc. now owns 46,552 shares of the bank’s stock worth $972,000 after purchasing an additional 1,815 shares in the last quarter. Institutional investors and hedge funds own 34.72% 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, money market, and individual retirement accounts, as well as certificates of deposit.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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