starts covering Parke Bancorp (NASDAQ:PKBK) initiated a hedge on the shares of Parke Bancorp (NASDAQ: PKBK – Get a rating) in a research note published Thursday. The brokerage has placed a “buy” rating on the bank’s shares.

NASDAQ:PKBK shares opened at $22.95 on Thursday. The stock has a market capitalization of $272.97 million, a PE ratio of 6.81 and a beta of 0.82. The company’s fifty-day moving average is $23.55 and its 200-day moving average is $22.22. Parke Bancorp has a 52-week low of $18.50 and a 52-week 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.

In other news from Parke Bancorp, Director Edward Infantolino sold 10,000 shares of the company in a transaction dated Monday, January 31. The shares were sold at an average price of $24.00, for a total value of $240,000.00. The transaction was disclosed in a legal filing with the SEC, available at this hyperlink. Additionally, director Daniel J. Dalton sold 5,000 shares of the company in a trade dated Tuesday, January 25. The shares were sold at an average price of $23.54, for a total transaction of $117,700.00. Disclosure of this sale can be found here. During the last quarter, insiders sold 53,836 shares of the company worth $1,287,831. 18.20% of the shares are held by company insiders.

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Several hedge funds and other institutional investors have recently changed their positions in PKBK. Guardian Wealth Management Inc. acquired a new stake in Parke Bancorp during the fourth quarter worth approximately $29,000. Marshall Wace LLP bought a new stake in Parke Bancorp during the fourth quarter worth approximately $36,000. Acadian Asset Management LLC acquired a new stake in Parke Bancorp during the fourth quarter valued at approximately $89,000. Wells Fargo & Company MN increased its stake in Parke Bancorp by 9.3% during the fourth quarter. Wells Fargo & Company MN now owns 6,476 shares of the bank worth $138,000 after acquiring 550 additional shares last quarter. Finally, Morgan Stanley increased its stake in Parke Bancorp by 20.6% in the second quarter. Morgan Stanley now owns 20,751 shares of the bank worth $406,000 after acquiring 3,539 more shares last quarter. Institutional investors hold 36.72% of the company’s shares.

About Parke Bancorp (Get a rating)

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 building construction loans, working capital loans and lines of credit, demand, term and term loans, equipment, inventory and accounts receivable, fixed rate second mortgages, new and used auto loans and overdraft protection.

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