Parke Bancorp, Inc. (NASDAQ:PKBK) Chairman Sells $104,800.00 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Chairman Daniel J. Dalton sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $20.96, for a total value of $104,800.00. Following the completion of the sale, the chairman now directly owns 71,319 shares of the company’s stock, valued at approximately $1,494,846.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Parke Bancorp Stock Performance

Shares of PKBK stock opened at $20.74 on Friday. The stock has a fifty day moving average price of $20.60 and a 200 day moving average price of $18.23. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market cap of $248.11 million, a PE ratio of 10.75 and a beta of 0.70. Parke Bancorp, Inc. has a 1 year low of $15.24 and a 1 year high of $22.00.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.62 EPS for the quarter. The business had revenue of $15.62 million for the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.81%.

Parke Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.47%. Parke Bancorp’s dividend payout ratio is currently 37.31%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 21st.

Hedge Funds Weigh In On Parke Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Lakewood Asset Management LLC grew its stake in Parke Bancorp by 8.2% in the 3rd quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock worth $274,000 after acquiring an additional 997 shares during the period. BNP Paribas Financial Markets increased its position in Parke Bancorp by 80.1% during the first quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock worth $89,000 after purchasing an additional 2,310 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Parke Bancorp by 1,990.2% during the 3rd quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock worth $53,000 after buying an additional 2,428 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Parke Bancorp by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock worth $999,000 after acquiring an additional 4,076 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Parke Bancorp by 1.1% in the first quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock valued at $8,860,000 after buying an additional 5,698 shares during the period. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Parke Bancorp Company Profile

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, time, money market, and individual retirement accounts, as well as certificates of deposit.