Parke Bancorp, Inc. (NASDAQ:PKBK) Director Sells $20,000.00 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jeffrey H. Kripitz sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $20.00, for a total value of $20,000.00. Following the transaction, the director now owns 52,874 shares of the company’s stock, valued at approximately $1,057,480. The trade was a 1.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Parke Bancorp Trading Up 2.5 %

Shares of Parke Bancorp stock opened at $19.96 on Wednesday. The firm has a market cap of $237.32 million, a price-to-earnings ratio of 8.79 and a beta of 0.72. The business has a 50-day moving average price of $20.60 and a 200-day moving average price of $20.79. 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, Inc. has a twelve month low of $15.24 and a twelve month high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings data on Friday, January 24th. The bank reported $0.61 earnings per share for the quarter. Parke Bancorp had a return on equity of 9.41% and a net margin of 21.25%.

Parke Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.72 annualized dividend and a yield of 3.61%. Parke Bancorp’s dividend payout ratio is currently 31.72%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Parke Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, January 27th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Parke Bancorp by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank’s stock worth $622,000 after acquiring an additional 1,574 shares in the last quarter. Rhumbline Advisers grew its position in Parke Bancorp by 5.2% in the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after acquiring an additional 767 shares in the last quarter. Empowered Funds LLC grew its position in Parke Bancorp by 5.1% in the fourth quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock worth $980,000 after acquiring an additional 2,333 shares in the last quarter. JPMorgan Chase & Co. grew its position in Parke Bancorp by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock worth $336,000 after acquiring an additional 1,842 shares in the last quarter. Finally, Barclays PLC lifted its stake in Parke Bancorp by 306.7% in the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock worth $284,000 after purchasing an additional 10,237 shares during the last quarter. 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.