ValuEngine downgraded shares of Parke Bancorp (NASDAQ:PKBK) from a buy rating to a hold rating in a research report released on Friday morning.
Parke Bancorp (NASDAQ PKBK) traded up $0.05 during trading on Friday, reaching $21.15. The company’s stock had a trading volume of 5,900 shares, compared to its average volume of 16,145. Parke Bancorp has a 12-month low of $17.35 and a 12-month high of $23.95. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $161.88, a price-to-earnings ratio of 14.25 and a beta of 0.59.
Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Monday, October 23rd. The bank reported $0.42 EPS for the quarter. Parke Bancorp had a return on equity of 13.19% and a net margin of 30.47%. The firm had revenue of $10.71 million for the quarter.
Several institutional investors and hedge funds have recently modified their holdings of PKBK. State of New Jersey Common Pension Fund D increased its stake in shares of Parke Bancorp by 10.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 125,665 shares of the bank’s stock valued at $2,815,000 after purchasing an additional 11,424 shares during the last quarter. First Manhattan Co. increased its stake in shares of Parke Bancorp by 52.0% in the 2nd quarter. First Manhattan Co. now owns 29,876 shares of the bank’s stock valued at $669,000 after purchasing an additional 10,216 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Parke Bancorp in the 2nd quarter valued at $211,000. Wedbush Securities Inc. increased its stake in shares of Parke Bancorp by 10.0% in the 2nd quarter. Wedbush Securities Inc. now owns 27,280 shares of the bank’s stock valued at $611,000 after purchasing an additional 2,480 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Parke Bancorp in the 2nd quarter valued at $370,000. Institutional investors own 24.88% of the company’s stock.
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About Parke Bancorp
Parke Bancorp, Inc is a bank holding company of Parke Bank (the Bank). The Bank is a full commercial service bank, with focus on providing personal and business financial services to individuals and small to mid-sized businesses in Gloucester, Atlantic and Cape May Counties in New Jersey and the Philadelphia area in Pennsylvania.
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