After Forming Bullish Double Top, Is Parke Bancorp, Inc. (PKBK)’s Near-Term Analysis Positive?

September 14, 2018 - By Megan Stone

Parke Bancorp, Inc. (NASDAQ:PKBK) Logo

Investors sentiment increased to 4.9 in 2018 Q2. Its up 3.68, from 1.22 in 2018Q1. It is positive, as 3 investors sold Parke Bancorp, Inc. shares while 7 reduced holdings. 10 funds opened positions while 39 raised stakes. 5.92 million shares or 176.05% more from 2.14 million shares in 2018Q1 were reported.
Schwab Charles Inv Mgmt reported 13,940 shares stake. 8,541 are owned by Zpr Investment Mngmt. Amer Gru Inc owns 4,511 shares for 0% of their portfolio. Fincl Bank Of America De reported 0% stake. 20,263 were reported by Wells Fargo & Mn. Bnp Paribas Arbitrage Sa stated it has 235 shares or 0% of all its holdings. Earnest Ltd Limited Liability Company accumulated 1,347 shares or 0% of the stock. Meeder Asset Management holds 0% or 549 shares in its portfolio. First Manhattan stated it has 0.01% in Parke Bancorp, Inc. (NASDAQ:PKBK). Pennsylvania-based Vanguard Grp has invested 0% in Parke Bancorp, Inc. (NASDAQ:PKBK). Royal Retail Bank Of Canada has invested 0% in Parke Bancorp, Inc. (NASDAQ:PKBK). Deutsche Commercial Bank Ag holds 56,560 shares. Tower Research Limited Com (Trc) invested in 2,078 shares or 0% of the stock. Blackrock Inc reported 0% of its portfolio in Parke Bancorp, Inc. (NASDAQ:PKBK). 90,348 were reported by State Street.

Since April 20, 2018, it had 4 insider buys, and 3 sales for $297,319 activity. Shares for $120,027 were sold by DALTON DANIEL J on Friday, April 20. $94,480 worth of Parke Bancorp, Inc. (NASDAQ:PKBK) was sold by KRIPITZ JEFFREY H on Wednesday, April 25. 243 shares were bought by DOBSON ARRET F, worth $5,161 on Tuesday, May 22.

The chart of Parke Bancorp, Inc. (PKBK) shows a double top with $24.88 target or 7.00 % above today’s $23.25 share price. The 5 months chart pattern indicates low risk for the $227.25 million company. It was reported on Sep, 14 by Finviz.com. If the $24.88 price target is reached, the company will be worth $15.91M more. Double tops are rare but powerful chart patterns.

The stock increased 0.65% or $0.15 during the last trading session, reaching $23.25. About 2,532 shares traded. Parke Bancorp, Inc. (NASDAQ:PKBK) has risen 32.69% since September 14, 2017 and is uptrending. It has outperformed by 17.07% the S&P500.

Parke Bancorp, Inc. operates as the bank holding firm for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company has market cap of $227.25 million. The firm offers various deposit products, including checking, savings, money market, and individual retirement accounts, as well as certificates of deposit. It has a 14.75 P/E ratio. The Company’s loan portfolio comprises residential and commercial real estate construction loans; working capital loans and lines of credit; demand, term, and time loans; equipment, inventory, and accounts receivable financing; and residential mortgage loans, home equity lines of credit, fixed rate second mortgages, new and used auto loans, and overdraft protection products.

Parke Bancorp, Inc. (NASDAQ:PKBK) Institutional Positions Chart

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