StockNews.com Downgrades Parke Bancorp to Hold Rating

Investment firm StockNews.com has lowered its rating on Parke Bancorp (NASDAQ:PKBK) from "buy" to "hold," according to a research report published on Monday. This adjustment suggests that analysts have a more cautious outlook on the stock's potential moving forward.

Recent Price Movement

During midday trading on Monday, shares of Parke Bancorp experienced a modest increase of $0.12, bringing the stock price to $20.12. A total of 31,348 shares were traded, which is higher than the average volume of 23,066 shares. Over the past year, the stock has seen a low point of $15.24 and a high of $24.29. Financial ratios indicate a current ratio and quick ratio of 1.27, along with a debt-to-equity ratio of 0.64. The recent 50-day moving average price stands at $21.33, while the 200-day moving average price is at $20.70. Parke Bancorp now has a market capitalization of approximately $239.23 million and a price-to-earnings (P/E) ratio of 8.64, with a beta of 0.73.

Financial Performance

Parke Bancorp recently reported its earnings for the quarter ending on January 24. The company achieved an earnings per share (EPS) of $0.61. It also noted a net margin of 22.32% and a return on equity of 9.75%, indicating a stable financial performance.

Insider Transactions

In related news, director Jeffrey H. Kripitz sold 10,000 shares of Parke Bancorp on November 20 at an average price of $22.77. This transaction was valued at $227,700, and after the sale, Kripitz's holdings decreased by 12.05%. He currently owns 73,013 shares, which are valued at approximately $1,662,506. Company insiders control about 15.33% of Parke Bancorp's stock.

Institutional Investment Activity

Several institutional investors have been active in buying and selling shares of Parke Bancorp. For example, Dimensional Fund Advisors LP increased its holdings by 4.9% in the second quarter, now owning 477,549 shares valued at $8,309,000. Geode Capital Management LLC raised its stake by 0.6%, bringing its total ownership to 231,800 shares valued at $4,845,000. Similarly, Empowered Funds LLC and Fourthstone LLC have also increased their positions in the bank, showcasing continued institutional interest. Altogether, hedge funds and institutional investors hold about 49.69% of the company's shares.

About Parke Bancorp

Parke Bancorp, Inc. serves as the bank holding company for Parke Bank, offering a range of financial services to individuals and small to mid-sized businesses. The company provides various deposit products such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

Parke, Bancorp, Hold