Parke Bancorp (NASDAQ:PKBK) Upgraded at BidaskClub

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

Separately, ValuEngine cut shares of Parke Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

PKBK traded up $1.42 during trading on Friday, hitting $24.30. 12,818 shares of the company traded hands, compared to its average volume of 15,566. The company has a market cap of $261.74 million, a PE ratio of 8.54 and a beta of 0.70. The stock’s 50-day simple moving average is $22.16 and its two-hundred day simple moving average is $22.16. Parke Bancorp has a 1 year low of $16.71 and a 1 year high of $24.45. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Monday, July 22nd. The bank reported $0.68 earnings per share for the quarter. The company had revenue of $15.06 million during the quarter. Parke Bancorp had a net margin of 36.52% and a return on equity of 17.54%.

Large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its stake in shares of Parke Bancorp by 564.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,468 shares of the bank’s stock worth $31,000 after buying an additional 1,247 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Parke Bancorp by 61.7% in the 2nd quarter. Acadian Asset Management LLC now owns 2,434 shares of the bank’s stock worth $58,000 after buying an additional 929 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Parke Bancorp by 53.6% in the 4th quarter. Bank of America Corp DE now owns 5,742 shares of the bank’s stock worth $108,000 after buying an additional 2,004 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Parke Bancorp by 8.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,987 shares of the bank’s stock worth $164,000 after buying an additional 521 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Parke Bancorp by 23.7% in the 1st quarter. SG Americas Securities LLC now owns 7,394 shares of the bank’s stock worth $154,000 after buying an additional 1,417 shares in the last quarter. 38.05% of the stock is owned by institutional investors and hedge funds.

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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