Vito Pantilione Purchases 1,300 Shares of Parke Bancorp (NASDAQ:PKBK) Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione bought 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average price of $33.68 per share, with a total value of $43,784.00. Following the purchase, the chief executive officer owned 237,829 shares of the company’s stock, valued at $8,010,080.72. The trade was a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Parke Bancorp Stock Performance

Shares of Parke Bancorp stock opened at $34.15 on Friday. The firm has a market capitalization of $400.58 million, a P/E ratio of 8.89 and a beta of 0.48. Parke Bancorp, Inc. has a 52 week low of $19.71 and a 52 week high of $34.50. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $32.40 and its two-hundred day moving average is $29.86.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.03 earnings per share for the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 14.11%. The company had revenue of $23.89 million for the quarter.

Parke Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This is a positive change from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. Parke Bancorp’s dividend payout ratio is 20.83%.

Hedge Funds Weigh In On Parke Bancorp

Several institutional investors have recently bought and sold shares of PKBK. Russell Investments Group Ltd. raised its position in Parke Bancorp by 66.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after buying an additional 855 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after acquiring an additional 999 shares during the period. Byrne Asset Management LLC boosted its holdings in shares of Parke Bancorp by 14.3% in the second quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock valued at $106,000 after acquiring an additional 400 shares in the last quarter. Daytona Street Capital LLC purchased a new stake in shares of Parke Bancorp in the fourth quarter valued at about $163,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Parke Bancorp during the fourth quarter worth about $204,000. 49.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Parke Bancorp presently has an average rating of “Buy”.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.