Parke Bancorp, Inc. (NASDAQ:PKBK) Short Interest Update

Parke Bancorp, Inc. (NASDAQ:PKBK) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 56,500 shares, a decrease of 16.7% from the September 30th total of 67,800 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average trading volume of 18,600 shares, the short-interest ratio is presently 3.0 days.

Parke Bancorp Price Performance

NASDAQ PKBK traded down $0.11 during trading hours on Wednesday, hitting $21.28. The company had a trading volume of 17,626 shares, compared to its average volume of 22,697. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $254.87 million, a price-to-earnings ratio of 9.18 and a beta of 0.70. Parke Bancorp has a 52 week low of $15.24 and a 52 week high of $22.00. The firm has a 50 day simple moving average of $20.69 and a 200 day simple moving average of $18.31.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Friday, October 18th. The bank reported $0.62 EPS for the quarter. The company had revenue of $15.62 million during the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.81%.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were given a $0.18 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.38%. Parke Bancorp’s dividend payout ratio (DPR) is presently 30.90%.

Insider Activity

In related news, Chairman Daniel J. Dalton sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $20.96, for a total value of $104,800.00. Following the transaction, the chairman now owns 71,319 shares in the company, valued at approximately $1,494,846.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.52% of the company’s stock.

Hedge Funds Weigh In On Parke Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in shares of Parke Bancorp by 1,990.2% during the 3rd quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock valued at $53,000 after acquiring an additional 2,428 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Parke Bancorp by 80.1% during the 1st quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock valued at $89,000 after buying an additional 2,310 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Parke Bancorp during the second quarter valued at about $186,000. Quadrature Capital Ltd bought a new stake in Parke Bancorp during the first quarter worth about $198,000. Finally, Private Advisor Group LLC bought a new stake in Parke Bancorp in the 3rd quarter worth approximately $211,000. 49.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 21st.

Parke Bancorp Company Profile

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, time, money market, and individual retirement accounts, as well as certificates of deposit.