Insider Selling: Parke Bancorp (NASDAQ:PKBK) CFO Sells $69,920.00 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CFO Jonathan Hill sold 2,000 shares of Parke Bancorp stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.96, for a total value of $69,920.00. Following the completion of the sale, the chief financial officer directly owned 30 shares in the company, valued at $1,048.80. This represents a 98.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Parke Bancorp Stock Down 3.4%

Parke Bancorp stock opened at $33.87 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. Parke Bancorp, Inc. has a 1-year low of $19.71 and a 1-year high of $35.70. The company has a fifty day simple moving average of $33.26 and a 200 day simple moving average of $30.66. The company has a market cap of $398.31 million, a P/E ratio of 8.82 and a beta of 0.47.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.03 EPS for the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 13.88%. The company had revenue of $23.89 million during the quarter.

Parke Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, July 2nd. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. Parke Bancorp’s payout ratio is currently 20.83%.

Institutional Investors Weigh In On Parke Bancorp

A number of large investors have recently added to or reduced their stakes in PKBK. Arrowstreet Capital Limited Partnership boosted its position in Parke Bancorp by 83.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock worth $7,471,000 after purchasing an additional 119,274 shares during the period. Militia Capital Management LLC bought a new position in shares of Parke Bancorp in the first quarter valued at about $3,408,000. Sei Investments Co. bought a new position in shares of Parke Bancorp in the first quarter valued at about $1,602,000. Rhino Investment Partners Inc bought a new stake in shares of Parke Bancorp during the 1st quarter worth about $6,469,000. Finally, Empirical Finance LLC grew its stake in Parke Bancorp by 86.6% in the 1st quarter. Empirical Finance LLC now owns 103,454 shares of the bank’s stock valued at $2,938,000 after buying an additional 48,008 shares during the last quarter. Institutional investors own 49.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PKBK shares. Wall Street Zen raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus 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.