Parke Bancorp (NASDAQ:PKBK) Share Price Crosses Above 200-Day Moving Average of $17.15

Parke Bancorp, Inc. (NASDAQ:PKBK)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.15 and traded as high as $20.65. Parke Bancorp shares last traded at $20.50, with a volume of 17,200 shares trading hands.

Parke Bancorp Price Performance

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $18.48 and a 200-day simple moving average of $17.17. The firm has a market cap of $241.64 million, a PE ratio of 10.45 and a beta of 0.70.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.53 earnings per share for the quarter. Parke Bancorp had a return on equity of 10.19% and a net margin of 17.49%. The business had revenue of $31.39 million during the quarter.

Parke Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.72 annualized dividend and a yield of 3.57%. Parke Bancorp’s payout ratio is 37.31%.

Insider Buying and Selling at Parke Bancorp

In other news, COO Ralph Martin Gallo sold 7,700 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total transaction of $151,151.00. Following the completion of the transaction, the chief operating officer now owns 404 shares in the company, valued at $7,930.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new position in Parke Bancorp during the second quarter worth $186,000. Dimensional Fund Advisors LP grew its holdings in Parke Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock valued at $8,309,000 after purchasing an additional 22,374 shares during the last quarter. Bank of New York Mellon Corp raised its position in Parke Bancorp by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock worth $999,000 after purchasing an additional 4,076 shares during the period. Fulton Bank N.A. lifted its stake in Parke Bancorp by 52.1% in the second quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock worth $1,286,000 after purchasing an additional 25,314 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Parke Bancorp during the first quarter valued at approximately $198,000. 49.69% of the stock is owned by hedge funds and other institutional investors.

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.