Parke Bancorp, Inc. (NASDAQ:PKBK) insider David O. Middlebrook sold 800 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $18.60, for a total value of $14,880.00. Following the completion of the sale, the insider now directly owns 21,889 shares of the company’s stock, valued at approximately $407,135.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Parke Bancorp, Inc. (PKBK) remained flat at $19.30 during trading on Thursday. 506 shares of the company’s stock traded hands. Parke Bancorp, Inc. has a 1-year low of $12.43 and a 1-year high of $22.95. The firm has a market capitalization of $148.07 million, a P/E ratio of 13.29 and a beta of 0.63. The company has a 50 day moving average price of $20.51 and a 200-day moving average price of $20.41.
Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $10.39 million during the quarter. Parke Bancorp had a return on equity of 13.27% and a net margin of 31.41%. On average, equities analysts anticipate that Parke Bancorp, Inc. will post $1.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, July 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.49%. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.09. Parke Bancorp’s payout ratio is 33.06%.
Separately, ValuEngine upgraded Parke Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
Several hedge funds have recently bought and sold shares of PKBK. PNC Financial Services Group Inc. boosted its stake in Parke Bancorp by 1.3% in the second quarter. PNC Financial Services Group Inc. now owns 321,071 shares of the bank’s stock worth $7,192,000 after buying an additional 4,187 shares during the period. Vanguard Group Inc. boosted its position in shares of Parke Bancorp by 75.3% in the second quarter. Vanguard Group Inc. now owns 236,660 shares of the bank’s stock valued at $5,301,000 after buying an additional 101,649 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Parke Bancorp by 10.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 125,665 shares of the bank’s stock valued at $2,815,000 after buying an additional 11,424 shares during the period. Context BH Capital Management LP boosted its position in shares of Parke Bancorp by 22.6% in the second quarter. Context BH Capital Management LP now owns 64,871 shares of the bank’s stock valued at $1,453,000 after buying an additional 11,972 shares during the period. Finally, Northern Trust Corp bought a new position in shares of Parke Bancorp during the second quarter valued at about $1,227,000. Institutional investors and hedge funds own 19.15% of the company’s stock.
Parke Bancorp Company Profile
Parke Bancorp, Inc is a bank holding company of Parke Bank (the Bank). The Bank is a full commercial service bank, with focus on providing personal and business financial services to individuals and small to mid-sized businesses in Gloucester, Atlantic and Cape May Counties in New Jersey and the Philadelphia area in Pennsylvania.
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