Short Interest in Parke Bancorp, Inc. (NASDAQ:PKBK) Rises By 23.0%

Parke Bancorp, Inc. (NASDAQ:PKBK) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 43,300 shares, an increase of 23.0% from the February 28th total of 35,200 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 25,600 shares, the days-to-cover ratio is presently 1.7 days.

Parke Bancorp Stock Performance

PKBK traded up $0.27 during mid-day trading on Wednesday, reaching $19.08. 26,941 shares of the company traded hands, compared to its average volume of 24,469. The company’s fifty day moving average price is $19.40 and its 200-day moving average price is $20.70. The stock has a market capitalization of $225.96 million, a P/E ratio of 8.41 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. Parke Bancorp has a 52-week low of $15.24 and a 52-week high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a return on equity of 9.41% and a net margin of 21.25%.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, April 4th. Parke Bancorp’s dividend payout ratio (DPR) is presently 31.72%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Parke Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, March 28th.

Insider Buying and Selling at Parke Bancorp

In other news, Director Jeffrey H. Kripitz sold 6,101 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total value of $122,752.12. Following the completion of the transaction, the director now owns 54,353 shares in the company, valued at $1,093,582.36. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 7,160 shares of company stock worth $143,947. 15.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Parke Bancorp

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in shares of Parke Bancorp by 5.2% in the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after buying an additional 767 shares during the period. Jane Street Group LLC raised its stake in Parke Bancorp by 6.7% during the 3rd quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after acquiring an additional 880 shares during the period. BNP Paribas Financial Markets lifted its holdings in Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock valued at $72,000 after purchasing an additional 1,235 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Parke Bancorp by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock worth $204,000 after purchasing an additional 1,343 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Parke Bancorp by 0.6% in the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock worth $4,845,000 after purchasing an additional 1,447 shares in the last quarter. 49.69% of the stock is 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, time, money market, and individual retirement accounts, as well as certificates of deposit.