Parke Bancorp, Inc. (NASDAQ:PKBK) Sees Significant Drop in Short Interest

Parke Bancorp, Inc. (NASDAQ:PKBK) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 67,800 shares, a drop of 19.4% from the September 15th total of 84,100 shares. Based on an average trading volume of 20,400 shares, the days-to-cover ratio is currently 3.3 days. Approximately 0.7% of the shares of the company are short sold.

Insider Activity at Parke Bancorp

In related news, COO Ralph Martin Gallo sold 7,700 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total value of $151,151.00. Following the completion of the transaction, the chief operating officer now owns 404 shares of the company’s stock, valued at approximately $7,930.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Parke Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in PKBK. Lakewood Asset Management LLC grew its holdings in Parke Bancorp by 8.2% during 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 in the last quarter. Squarepoint Ops LLC acquired a new stake in Parke Bancorp in the second quarter valued at $186,000. Dimensional Fund Advisors LP raised its stake in Parke Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock valued at $8,309,000 after buying an additional 22,374 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Parke Bancorp by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock worth $999,000 after buying an additional 4,076 shares during the last quarter. Finally, Fulton Bank N.A. boosted its position in shares of Parke Bancorp by 52.1% during the 2nd quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock worth $1,286,000 after acquiring an additional 25,314 shares in the last quarter. 49.69% of the stock is owned by institutional investors and hedge funds.

Parke Bancorp Trading Up 1.7 %

Shares of Parke Bancorp stock traded up $0.36 during trading hours on Tuesday, hitting $21.01. The company’s stock had a trading volume of 20,094 shares, compared to its average volume of 23,179. 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 $251.34 million, a price-to-earnings ratio of 10.89 and a beta of 0.70. The firm has a fifty day moving average of $20.14 and a 200-day moving average of $17.96. Parke Bancorp has a twelve month low of $15.16 and a twelve month high of $22.00.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Friday, July 19th. The bank reported $0.53 EPS for the quarter. Parke Bancorp had a return on equity of 10.19% and a net margin of 17.49%. The company had revenue of $31.39 million during the quarter.

Parke Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Friday, October 4th. Parke Bancorp’s dividend payout ratio is currently 37.31%.

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.