Parke Bancorp (NASDAQ:PKBK) Rating Increased to Hold at ValuEngine

Parke Bancorp (NASDAQ:PKBK) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, ValuEngine reports.

Separately, BidaskClub lowered shares of Parke Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday.

Shares of NASDAQ PKBK opened at $21.51 on Friday. 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 52-week low of $17.75 and a 52-week high of $23.14. The firm has a 50 day moving average price of $23.82 and a two-hundred day moving average price of $23.20. The stock has a market cap of $254.17 million, a P/E ratio of 7.88 and a beta of 0.69.

In other news, Director Jeffrey H. Kripitz sold 6,800 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $23.25, for a total value of $158,100.00. Following the sale, the director now directly owns 188,243 shares of the company’s stock, valued at approximately $4,376,649.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jack C. Sheppard, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $22.91, for a total transaction of $114,550.00. Following the completion of the sale, the director now directly owns 70,488 shares in the company, valued at $1,614,880.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,800 shares of company stock worth $391,400. Insiders own 17.82% of the company’s stock.

Several large investors have recently bought and sold shares of PKBK. Citigroup Inc. boosted its stake in shares of Parke Bancorp by 79.3% in the 4th quarter. Citigroup Inc. now owns 1,804 shares of the bank’s stock valued at $46,000 after purchasing an additional 798 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Parke Bancorp during the fourth quarter worth $63,000. Denali Advisors LLC boosted its stake in Parke Bancorp by 2,600.0% during the fourth quarter. Denali Advisors LLC now owns 2,700 shares of the bank’s stock worth $69,000 after acquiring an additional 2,600 shares in the last quarter. Barclays PLC boosted its stake in Parke Bancorp by 100.8% during the fourth quarter. Barclays PLC now owns 9,173 shares of the bank’s stock worth $233,000 after acquiring an additional 4,604 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Parke Bancorp by 9.6% during the third quarter. Rhumbline Advisers now owns 13,300 shares of the bank’s stock worth $296,000 after acquiring an additional 1,162 shares in the last quarter. 38.61% of the stock is currently owned by 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, money market, and individual retirement accounts, as well as certificates of deposit.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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