BidaskClub Lowers Parke Bancorp (NASDAQ:PKBK) to Sell

BidaskClub lowered shares of Parke Bancorp (NASDAQ:PKBK) from a hold rating to a sell rating in a report issued on Saturday, BidAskClub reports.

Separately, ValuEngine cut Parke Bancorp from a hold rating to a sell rating in a research report on Thursday, August 1st.

Shares of PKBK traded up $0.06 during trading hours on Friday, hitting $23.40. 1,669 shares of the stock were exchanged, compared to its average volume of 11,062. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.17. Parke Bancorp has a 12-month low of $16.71 and a 12-month high of $24.50. The company has a market cap of $247.84 million, a price-to-earnings ratio of 8.62 and a beta of 0.66. The stock’s 50-day moving average price is $23.12 and its two-hundred day moving average price is $22.63.

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, October 10th.

In related news, Director Edward Infantolino sold 1,074 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $24.05, for a total transaction of $25,829.70. Following the completion of the sale, the director now directly owns 35,061 shares in the company, valued at $843,217.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.82% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of PKBK. BlackRock Inc. grew its holdings in Parke Bancorp by 33.3% in the 2nd quarter. BlackRock Inc. now owns 456,709 shares of the bank’s stock valued at $10,938,000 after buying an additional 114,105 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in Parke Bancorp by 33.4% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 215,950 shares of the bank’s stock valued at $5,172,000 after buying an additional 54,127 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new stake in Parke Bancorp in the 2nd quarter valued at $936,000. Bowling Portfolio Management LLC purchased a new stake in Parke Bancorp in the 3rd quarter valued at $407,000. Finally, Private Advisor Group LLC purchased a new stake in Parke Bancorp in the 2nd quarter valued at $314,000. Institutional investors own 38.11% of the company’s stock.

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

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