Parke Bancorp, Inc. to Issue Quarterly Dividend of $0.20 (NASDAQ:PKBK)

Parke Bancorp, Inc. (NASDAQ:PKBK) declared a quarterly dividend on Tuesday, September 22nd. Investors of record on Friday, October 2nd will be given a dividend of 0.20 per share by the bank on Friday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, October 2nd.

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

Parke Bancorp Stock Down 0.8%

NASDAQ PKBK opened at $33.68 on Wednesday. The stock has a market cap of $396.09 million, a PE ratio of 8.77 and a beta of 0.47. The stock’s 50 day moving average is $34.04 and its 200 day moving average is $31.64. Parke Bancorp has a 12 month low of $19.71 and a 12 month high of $35.70. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.03 EPS for the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 13.88%. The business had revenue of $23.89 million for the quarter.

Insider Activity at Parke Bancorp

In other news, CEO Vito Pantilione acquired 1,300 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of $33.68 per share, with a total value of $43,784.00. Following the completion of the purchase, the chief executive officer directly owned 237,829 shares of the company’s stock, valued at $8,010,080.72. This represents a 0.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jonathan D. Hill sold 2,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.96, for a total value of $69,920.00. Following the transaction, the chief financial officer owned 30 shares of the company’s stock, valued at approximately $1,048.80. The trade was a 98.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 12.97% of the company’s stock.

Institutional Trading of Parke Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its stake in Parke Bancorp by 83.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock worth $7,471,000 after buying an additional 119,274 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in Parke Bancorp during the 2nd quarter valued at $1,656,000. Militia Capital Management LLC purchased a new position in shares of Parke Bancorp in the 1st quarter valued at $3,408,000. Sei Investments Co. purchased a new position in shares of Parke Bancorp in the 1st quarter valued at $1,602,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Parke Bancorp in the 2nd quarter worth $1,233,000. 49.69% of the stock is currently owned by institutional investors.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-focused financial institution headquartered in Washington Township, New Jersey. The bank serves individuals, families, businesses and organizations in southern New Jersey and the greater Philadelphia area.

Parke Bank provides a range of traditional banking products and services, including consumer and business deposit accounts, residential and commercial real estate lending, construction loans, commercial and industrial loans, and other business financing.