Parke Bancorp (NASDAQ:PKBK) research coverage began on StockNews.com

StockNews.com assumed hedging on the shares of Parke Bancorp (NASDAQ: PKBK) in a research report released Tuesday. The company has placed a “buy” rating on the bank’s shares.

PKBK Stock opened at $24.08 on Tuesday. Parke Bancorp has a 12-month low of $18.06 and a 12-month high of $24.57. The company has a quick ratio of 1.16, a current ratio of 1.16 and a leverage ratio of 0.59. The stock has a market capitalization of $286.41 million, a P/E ratio of 7.15 and a beta of 0.94. The company’s 50-day moving average price is $22.94 and its 200-day moving average price is $21.97.

Separately, director Celestino R. Pennoni sold 5,000 shares of the company in a transaction that took place on Thursday, February 17. The stock was sold at an average price of $24.05, for a total value of $120,250.00. The transaction was disclosed in a legal filing with the SEC, which is available via this link. Also, director Edward Infantolino sold 10,000 shares of the company in a transaction that took place on Monday, January 31. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 53,836 shares of the company worth $1,287,831. 18.20% of the shares are held by insiders.

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Several institutional investors and hedge funds have recently changed their holdings in PKBK. Guardian Wealth Management Inc. purchased a new equity stake in Parke Bancorp during Q4 for approximately $29,000. Marshall Wace LLP purchased a new equity stake in Parke Bancorp during Q4 for a value of approximately $36,000. Acadian Asset Management LLC purchased a new stock position in Parke Bancorp during Q4 valued at approximately $89,000. Wells Fargo & Company MN increased its position in Parke Bancorp shares by 9.3% during the fourth quarter. Wells Fargo & Company MN now owns 6,476 shares of the bank valued at $138,000 after buying an additional 550 shares in the last quarter. Finally, Morgan Stanley increased its position in Parke Bancorp shares by 20.6% during the second quarter. Morgan Stanley now owns 20,751 shares of the bank valued at $406,000 after buying 3,539 additional shares in the last quarter. 36.46% of the shares are currently held by institutional investors and hedge funds.

Parke Bancorp Company Profile

Parke Bancorp, Inc operates as a bank holding company for Parke Bank. Parke Bank is a commercial services bank, which provides personal and commercial financial services to individuals and small businesses. Its commercial lending products include residential and commercial real estate construction loans; working capital loans and lines of credit; demand, term and term loans; financing of equipment, inventory and accounts receivable; fixed rate second mortgages; and new and used car loans and overdraft protection.

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