Parke Bancorp (NASDAQ:PKBK) Raised to Buy at Wall Street Zen

Parke Bancorp (NASDAQ:PKBK) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Parke Bancorp in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Parke Bancorp has an average rating of “Buy”.

Parke Bancorp Stock Performance

Shares of Parke Bancorp stock opened at $34.40 on Friday. The firm has a market capitalization of $404.54 million, a PE ratio of 8.96 and a beta of 0.47. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $32.70 and its 200 day moving average is $30.21. Parke Bancorp has a 1 year low of $19.71 and a 1 year high of $34.78.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.03 earnings per share for the quarter. The firm had revenue of $23.89 million for the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 13.88%.

Insider Buying and Selling at Parke Bancorp

In related news, CEO Vito S. Pantilione acquired 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was acquired at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the completion of the acquisition, the chief executive officer directly owned 237,829 shares of the company’s stock, valued at approximately $8,010,080.72. This trade represents a 0.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 12.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Parke Bancorp in the 2nd quarter valued at about $26,035,000. Deutsche Bank AG acquired a new stake in shares of Parke Bancorp in the second quarter valued at about $330,000. Bank of New York Mellon Corp bought a new position in shares of Parke Bancorp during the second quarter worth about $1,233,000. GSA Capital Partners LLP bought a new position in shares of Parke Bancorp during the second quarter worth about $566,000. Finally, Byrne Asset Management LLC lifted its stake in shares of Parke Bancorp by 14.3% in the second quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock worth $106,000 after acquiring an additional 400 shares during the period. 49.69% of the stock is owned by institutional investors and hedge funds.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.