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

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione purchased 1,300 shares of Parke Bancorp stock in a transaction dated Thursday, October 29th. The shares were purchased at an average price of $32.86 per share, for a total transaction of $42,718.00. Following the completion of the acquisition, the chief executive officer owned 239,629 shares of the company’s stock, valued at approximately $7,874,208.94. The trade was a 0.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Parke Bancorp Stock Performance

Parke Bancorp stock opened at $32.58 on Friday. The business has a 50 day moving average of $33.40 and a 200-day moving average of $31.10. The company has a market capitalization of $383.14 million, a P/E ratio of 8.21 and a beta of 0.51. Parke Bancorp, Inc. has a 1 year low of $21.10 and a 1 year high of $35.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.25 and a quick ratio of 1.25.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Wednesday, October 21st. The bank reported $1.02 EPS for the quarter. Parke Bancorp had a net margin of 30.55% and a return on equity of 14.13%. The business had revenue of $24.00 million for the quarter.

Parke Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. Parke Bancorp’s dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PKBK shares. Wall Street Zen raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parke Bancorp in a research report on Monday, September 21st. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Institutional Trading of Parke Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lakewood Asset Management LLC increased its position in shares of Parke Bancorp by 5.3% during the third quarter. Lakewood Asset Management LLC now owns 17,083 shares of the bank’s stock worth $559,000 after buying an additional 853 shares during the period. Sequoia Financial Advisors LLC bought a new position in Parke Bancorp during the second quarter worth $221,000. Pale Fire Capital SE acquired a new position in Parke Bancorp in the second quarter valued at $286,000. Susquehanna Fundamental Investments LLC lifted its holdings in Parke Bancorp by 53.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 12,543 shares of the bank’s stock valued at $416,000 after buying an additional 4,348 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Parke Bancorp during the second quarter valued at $331,000. Institutional investors and hedge funds own 49.69% of the company’s stock.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community bank headquartered in Sewell, New Jersey. Through Parke Bank, the company provides banking and financial services to individuals, businesses and organizations in southern New Jersey and the greater Philadelphia area.

Parke Bank’s products and services include checking and savings accounts, certificates of deposit, online and mobile banking, residential mortgages, home equity financing, consumer loans and commercial lending.