Insider Selling: Parke Bancorp, Inc. (NASDAQ:PKBK) Chairman Sells 5,000 Shares of Stock

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

Parke Bancorp Trading Down 1.4 %

NASDAQ:PKBK opened at $20.74 on Friday. Parke Bancorp, Inc. has a one year low of $15.24 and a one year high of $22.00. The business’s 50-day simple moving average is $20.60 and its 200 day simple moving average is $18.21. 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 price-to-earnings ratio of 10.75 and a beta of 0.70.

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

Parke Bancorp Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Parke Bancorp

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in Parke Bancorp by 80.1% during the first quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock valued at $89,000 after purchasing an additional 2,310 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Parke Bancorp during the 1st quarter valued at about $198,000. Bank of New York Mellon Corp raised 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 period. Vanguard Group Inc. lifted 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 worth $8,860,000 after acquiring an additional 5,698 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Parke Bancorp during the second quarter valued at approximately $186,000. Institutional investors and hedge funds 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.