Parke Bancorp, Inc. (NASDAQ:PKBK) Director Sells $227,700.00 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jeffrey H. Kripitz sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $22.77, for a total value of $227,700.00. Following the completion of the sale, the director now owns 73,013 shares of the company’s stock, valued at approximately $1,662,506.01. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Parke Bancorp Stock Up 2.3 %

Shares of NASDAQ:PKBK opened at $23.55 on Friday. The company has a market capitalization of $279.89 million, a price-to-earnings ratio of 10.11 and a beta of 0.69. The company has a 50 day moving average of $21.50 and a two-hundred day moving average of $19.05. Parke Bancorp, Inc. has a 52-week low of $15.24 and a 52-week high of $23.55. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.62 earnings per share for the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.75%. The business had revenue of $15.62 million during the quarter.

Parke Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders 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 3.06%. Parke Bancorp’s dividend payout ratio is presently 30.90%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 21st.

Institutional Trading of Parke Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Fulton Bank N.A. boosted its holdings in Parke Bancorp by 52.1% in the second quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock valued at $1,286,000 after purchasing an additional 25,314 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Parke Bancorp by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock valued at $8,309,000 after purchasing an additional 22,374 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Parke Bancorp during the 1st quarter valued at approximately $198,000. Squarepoint Ops LLC acquired a new stake in shares of Parke Bancorp during the second quarter worth approximately $186,000. Finally, Barclays PLC grew its position in shares of Parke Bancorp by 306.7% during the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock worth $284,000 after buying an additional 10,237 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 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.