Insider Buying: Parke Bancorp, Inc. (NASDAQ:PKBK) President Purchases 800 Shares of Stock

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Parke Bancorp, Inc. (NASDAQ:PKBK) President Vito S. Pantilione bought 800 shares of the stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $24.10 per share, with a total value of $19,280.00. Following the completion of the purchase, the president now directly owns 237,178 shares in the company, valued at approximately $5,715,989.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of PKBK traded down $0.40 during mid-day trading on Friday, reaching $23.01. The company had a trading volume of 29,300 shares, compared to its average volume of 9,197. Parke Bancorp, Inc. has a fifty-two week low of $16.71 and a fifty-two week high of $24.50. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The stock has a market cap of $254.41 million, a price-to-earnings ratio of 8.85 and a beta of 0.66. The firm has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $22.61.

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Thursday, October 10th.

A number of equities analysts have weighed in on PKBK shares. BidaskClub lowered shares of Parke Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine lowered shares of Parke Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Parke Bancorp by 33.3% in the 2nd quarter. BlackRock Inc. now owns 456,709 shares of the bank’s stock worth $10,938,000 after purchasing an additional 114,105 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Parke Bancorp by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 352,315 shares of the bank’s stock worth $8,438,000 after purchasing an additional 12,181 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in shares of Parke Bancorp by 33.4% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 215,950 shares of the bank’s stock worth $5,172,000 after purchasing an additional 54,127 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Parke Bancorp by 1.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 144,000 shares of the bank’s stock worth $3,449,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Parke Bancorp by 5.2% in the 2nd quarter. Northern Trust Corp now owns 81,785 shares of the bank’s stock worth $1,959,000 after purchasing an additional 4,015 shares during the last quarter. 37.73% of the stock is owned by institutional investors.

About Parke Bancorp

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, money market, and individual retirement accounts, as well as certificates of deposit.

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