Parke Bancorp (NASDAQ:PKBK) CFO Jonathan Hill Sells 454 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CFO Jonathan Hill sold 454 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $33.01, for a total value of $14,986.54. Following the completion of the transaction, the chief financial officer directly owned 30 shares in the company, valued at $990.30. This trade represents a 93.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Parke Bancorp Trading Down 3.4%

PKBK stock traded down $1.15 during trading on Thursday, hitting $32.29. The company had a trading volume of 26,946 shares, compared to its average volume of 71,417. The firm has a market capitalization of $379.74 million, a P/E ratio of 8.14 and a beta of 0.52. Parke Bancorp, Inc. has a 52-week low of $21.10 and a 52-week high of $35.70. The company has a 50 day simple moving average of $33.35 and a 200-day simple moving average of $31.22. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.51.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Wednesday, October 21st. The bank reported $1.02 EPS for the quarter. The business had revenue of $24.00 million for the quarter. Parke Bancorp had a net margin of 30.55% and a return on equity of 14.13%.

Parke Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were issued a $0.20 dividend. The ex-dividend date was Friday, October 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. Parke Bancorp’s payout ratio is presently 20.15%.

Wall Street Analyst Weigh In

Several research firms have commented on PKBK. Wall Street Zen upgraded Parke Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parke Bancorp in a report on Monday, September 21st. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Institutional Investors Weigh In On Parke Bancorp

Several large investors have recently modified their holdings of PKBK. BlackRock Inc. purchased a new stake in shares of Parke Bancorp in the 2nd quarter worth approximately $26,035,000. Dimensional Fund Advisors LP boosted its stake in shares of Parke Bancorp by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock valued at $17,018,000 after purchasing an additional 25,168 shares in the last quarter. Ategra Capital Management LLC purchased a new position in Parke Bancorp during the second quarter valued at approximately $11,402,000. Arrowstreet Capital Limited Partnership increased its holdings in Parke Bancorp by 83.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock valued at $7,471,000 after buying an additional 119,274 shares during the period. Finally, Rhino Investment Partners Inc purchased a new position in Parke Bancorp during the first quarter valued at approximately $6,469,000. Institutional investors own 49.69% of the company’s stock.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community bank headquartered in Sewell, New Jersey. Through Parke Bank, the company provides banking and financial services to individuals, businesses and organizations in southern New Jersey and the greater Philadelphia area.

Parke Bank’s products and services include checking and savings accounts, certificates of deposit, online and mobile banking, residential mortgages, home equity financing, consumer loans and commercial lending.