Parke Bancorp, Inc. (NASDAQ:PKBK) Increases Dividend to $0.20 Per Share

Parke Bancorp, Inc. (NASDAQ:PKBK) declared a quarterly dividend on Thursday, June 18th. Investors of record on Friday, July 3rd will be given a dividend of 0.20 per share by the bank on Friday, July 17th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date is Thursday, July 2nd. This is a 11.1% increase from Parke Bancorp’s previous quarterly dividend of $0.18.

Parke Bancorp has raised its dividend payment by an average of 0.0%per year over the last three years.

Parke Bancorp Stock Performance

NASDAQ PKBK traded up $0.45 during trading hours on Thursday, reaching $31.86. 132,067 shares of the company were exchanged, compared to its average volume of 90,110. The stock has a market capitalization of $373.72 million, a P/E ratio of 9.10 and a beta of 0.48. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. Parke Bancorp has a 1 year low of $18.97 and a 1 year high of $32.44. The business’s 50 day simple moving average is $30.59 and its 200-day simple moving average is $28.02.

Parke Bancorp (NASDAQ:PKBK) last released its earnings results on Friday, April 17th. The bank reported $0.99 earnings per share for the quarter. Parke Bancorp had a net margin of 28.04% and a return on equity of 13.02%. The firm had revenue of $22.98 million for the quarter.

Insiders Place Their Bets

In other news, CEO Vito S. Pantilione acquired 1,300 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average cost of $30.37 per share, for a total transaction of $39,481.00. Following the purchase, the chief executive officer owned 237,429 shares of the company’s stock, valued at approximately $7,210,718.73. The trade was a 0.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.97% of the company’s stock.

Hedge Funds Weigh In On Parke Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in shares of Parke Bancorp by 66.2% in the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after purchasing an additional 855 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Parke Bancorp by 44.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after buying an additional 999 shares in the last quarter. Byrne Asset Management LLC bought a new position in Parke Bancorp in the 4th quarter worth approximately $75,000. Daytona Street Capital LLC bought a new position in Parke Bancorp in the 4th quarter worth approximately $163,000. Finally, Engineers Gate Manager LP purchased a new position in Parke Bancorp in the 4th quarter valued at approximately $204,000. Institutional investors own 49.69% of the company’s stock.

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.