Jack Sheppard Jr Sells 22,500 Shares of Parke Bancorp (NASDAQ:PKBK) Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jack Sheppard, Jr. sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $27.03, for a total transaction of $608,175.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Parke Bancorp Stock Up 0.7%

Shares of PKBK opened at $27.74 on Thursday. The company’s fifty day moving average is $24.74 and its two-hundred day moving average is $22.68. 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, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $28.22. The firm has a market cap of $321.73 million, a PE ratio of 8.78 and a beta of 0.51.

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

Parke Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a $0.18 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.72 annualized dividend and a yield of 2.6%. Parke Bancorp’s dividend payout ratio (DPR) is currently 22.78%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Parke Bancorp in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Parke Bancorp currently has a consensus rating of “Buy”.

Institutional Investors Weigh In On Parke Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in Parke Bancorp by 228.3% during the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock worth $1,991,000 after buying an additional 73,505 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Parke Bancorp by 3.4% during the first quarter. Empowered Funds LLC now owns 49,443 shares of the bank’s stock worth $932,000 after buying an additional 1,644 shares during the period. Jane Street Group LLC purchased a new stake in shares of Parke Bancorp in the first quarter valued at approximately $229,000. Empirical Finance LLC grew its holdings in shares of Parke Bancorp by 58.3% in the 2nd quarter. Empirical Finance LLC now owns 35,407 shares of the bank’s stock worth $721,000 after acquiring an additional 13,036 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Parke Bancorp by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 15,969 shares of the bank’s stock worth $325,000 after purchasing an additional 1,051 shares during the last quarter. 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-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.