Parke Bancorp (NASDAQ:PKBK) Insider Nicholas Pantilione Sells 14,675 Shares

Parke Bancorp, Inc. (NASDAQ:PKBK) insider Nicholas Pantilione sold 14,675 shares of Parke Bancorp stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $28.29, for a total transaction of $415,155.75. Following the completion of the sale, the insider owned 1,850 shares of the company’s stock, valued at $52,336.50. This trade represents a 88.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Parke Bancorp Stock Up 0.6%

PKBK stock traded up $0.16 during trading hours on Friday, hitting $28.37. The company’s stock had a trading volume of 14,446 shares, compared to its average volume of 90,375. The stock has a 50 day moving average price of $26.34 and a two-hundred day moving average price of $23.45. Parke Bancorp, Inc. has a 12 month low of $16.94 and a 12 month high of $29.50. The company has a market capitalization of $329.09 million, a PE ratio of 8.98 and a beta of 0.53. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.27.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.93 earnings per share for the quarter. Parke Bancorp had a net margin of 25.86% and a return on equity of 12.16%. The business had revenue of $22.74 million for the quarter.

Parke Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. Parke Bancorp’s payout ratio is currently 22.78%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Parke Bancorp in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

Institutional Investors Weigh In On Parke Bancorp

A number of hedge funds have recently bought and sold shares of the company. Marex Group plc acquired a new stake in shares of Parke Bancorp in the fourth quarter valued at about $11,889,000. Fourthstone LLC lifted its position in shares of Parke Bancorp by 52.9% during the 4th quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock worth $15,547,000 after purchasing an additional 214,945 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Parke Bancorp by 228.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock valued at $1,991,000 after purchasing an additional 73,505 shares during the period. Citadel Advisors LLC acquired a new stake in Parke Bancorp in the 3rd quarter valued at approximately $532,000. Finally, Empowered Funds LLC increased its position in Parke Bancorp by 21.9% in the 4th quarter. Empowered Funds LLC now owns 115,728 shares of the bank’s stock worth $2,877,000 after buying an additional 20,756 shares during the period. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.