Wall Street Zen Downgrades Parke Bancorp (NASDAQ:PKBK) to Hold

Wall Street Zen cut shares of Parke Bancorp (NASDAQ:PKBK) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Parke Bancorp Trading Down 0.1%

Shares of PKBK opened at $19.36 on Friday. Parke Bancorp has a 52-week low of $15.24 and a 52-week high of $24.29. 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 firm’s fifty day moving average is $18.92 and its two-hundred day moving average is $19.79. The stock has a market cap of $229.28 million, a PE ratio of 8.53 and a beta of 0.58.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Thursday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%. The company had revenue of $17.43 million for the quarter.

Parke Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a dividend of $0.18 per share. The ex-dividend date was Friday, April 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.72%. Parke Bancorp’s payout ratio is 29.88%.

Institutional Trading of Parke Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of PKBK. Ategra Capital Management LLC increased its stake in Parke Bancorp by 52.1% during the fourth quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank’s stock worth $7,071,000 after purchasing an additional 118,069 shares during the period. Militia Capital Partners LP purchased a new position in Parke Bancorp in the first quarter valued at approximately $2,222,000. Goldman Sachs Group Inc. increased its stake in Parke Bancorp by 228.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock valued at $1,991,000 after purchasing an additional 73,505 shares during the last quarter. Nuveen LLC purchased a new position in Parke Bancorp in the first quarter valued at approximately $571,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Parke Bancorp in the fourth quarter valued at approximately $617,000. 49.69% of the stock is currently 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.