Parke Bancorp (NASDAQ:PKBK) CEO Vito Pantilione Buys 1,300 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione purchased 1,300 shares of the stock in a transaction dated Thursday, October 29th. The stock was bought at an average cost of $32.86 per share, with a total value of $42,718.00. Following the transaction, the chief executive officer owned 239,629 shares in the company, valued at $7,874,208.94. The trade was a 0.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Parke Bancorp Stock Performance

Shares of Parke Bancorp stock opened at $32.58 on Friday. Parke Bancorp, Inc. has a 1 year low of $21.10 and a 1 year high of $35.70. The firm’s 50-day moving average is $33.40 and its 200 day moving average is $31.10. The stock has a market cap of $383.17 million, a price-to-earnings ratio of 8.21 and a beta of 0.51. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.25 and a quick ratio of 1.25.

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

Parke Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Parke Bancorp

Institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its holdings in Parke Bancorp by 83.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock valued at $7,471,000 after acquiring an additional 119,274 shares during the period. Pinnacle Holdings LLC purchased a new stake in shares of Parke Bancorp during the 2nd quarter valued at about $1,656,000. Bank of New York Mellon Corp purchased a new stake in shares of Parke Bancorp during the 2nd quarter valued at about $1,233,000. Militia Capital Management LLC bought a new position in shares of Parke Bancorp in the 1st quarter worth approximately $3,408,000. Finally, Sei Investments Co. bought a new position in shares of Parke Bancorp in the 1st quarter worth approximately $1,602,000. Hedge funds and other 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.