Parke Bancorp (NASDAQ:PKBK) Issues Quarterly Earnings Results

Parke Bancorp (NASDAQ:PKBK) issued its earnings results on Wednesday. The bank reported $0.69 earnings per share for the quarter, Zacks reports. Parke Bancorp had a net margin of 21.82% and a return on equity of 9.76%.

Parke Bancorp Stock Down 2.7%

PKBK stock opened at $20.49 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.49. Parke Bancorp has a twelve month low of $16.94 and a twelve month high of $24.29. The company’s 50 day moving average is $19.98 and its two-hundred day moving average is $19.44. The stock has a market cap of $242.60 million, a P/E ratio of 8.50 and a beta of 0.58.

Parke Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.72 annualized dividend and a yield of 3.51%. Parke Bancorp’s dividend payout ratio (DPR) is 29.88%.

Institutional Trading of Parke Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in Parke Bancorp during the first quarter worth approximately $229,000. Empowered Funds LLC raised its holdings in Parke Bancorp by 3.4% during the first quarter. Empowered Funds LLC now owns 49,443 shares of the bank’s stock worth $932,000 after purchasing an additional 1,644 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Parke Bancorp by 228.3% during the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock worth $1,991,000 after purchasing an additional 73,505 shares in the last quarter. Institutional investors and hedge funds own 49.69% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Parke Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, June 7th.

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