Parke Bancorp (NASDAQ:PKBK) CEO Buys $39,481.00 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione purchased 1,300 shares of the stock in a transaction dated Tuesday, April 28th. The stock was bought at an average cost of $30.37 per share, with a total value of $39,481.00. Following the transaction, the chief executive officer owned 237,429 shares in the company, valued at $7,210,718.73. The trade was a 0.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Parke Bancorp Price Performance

NASDAQ PKBK opened at $30.36 on Friday. Parke Bancorp, Inc. has a one year low of $18.78 and a one year high of $31.45. The stock has a 50-day moving average of $28.59 and a 200 day moving average of $25.86. The company has a market capitalization of $356.12 million, a price-to-earnings ratio of 8.67 and a beta of 0.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.22 and a current ratio of 1.22.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.99 EPS for the quarter. The company had revenue of $22.99 million during the quarter. Parke Bancorp had a return on equity of 13.20% and a net margin of 28.04%.

Parke Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, April 3rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 2.4%. Parke Bancorp’s payout ratio is currently 20.57%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Parke Bancorp in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Institutional Trading of Parke Bancorp

Several hedge funds have recently modified their holdings of PKBK. Goldman Sachs Group Inc. raised its holdings in shares of Parke Bancorp by 228.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock worth $1,991,000 after acquiring an additional 73,505 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Parke Bancorp by 3.4% during the 1st quarter. Empowered Funds LLC now owns 49,443 shares of the bank’s stock worth $932,000 after acquiring an additional 1,644 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Parke Bancorp during the 1st quarter worth approximately $229,000. Rhumbline Advisers raised its holdings in shares of Parke Bancorp by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 15,969 shares of the bank’s stock worth $325,000 after acquiring an additional 1,051 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Parke Bancorp by 46.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 64,420 shares of the bank’s stock worth $1,312,000 after acquiring an additional 20,347 shares in the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

Parke Bancorp Company Profile

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.