Jonathan Hill Sells 2,000 Shares of Parke Bancorp (NASDAQ:PKBK) Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CFO Jonathan Hill sold 2,000 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.96, for a total transaction of $69,920.00. Following the completion of the sale, the chief financial officer directly owned 30 shares in the company, valued at $1,048.80. This represents a 98.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Parke Bancorp Stock Down 0.2%

Shares of PKBK stock traded down $0.06 during trading hours on Monday, hitting $35.08. 3,815 shares of the company were exchanged, compared to its average volume of 81,031. The stock has a market capitalization of $412.48 million, a price-to-earnings ratio of 9.13 and a beta of 0.47. Parke Bancorp, Inc. has a one year low of $19.71 and a one year high of $35.70. The business’s 50-day simple moving average is $33.09 and its two-hundred day simple moving average is $30.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.25 and a current ratio of 1.25.

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

Parke Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Parke Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, July 2nd. Parke Bancorp’s dividend payout ratio is currently 20.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PKBK shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Parke Bancorp currently has an average rating of “Buy”.

Institutional Trading of Parke Bancorp

Large investors have recently added to or reduced their stakes in the business. Byrne Asset Management LLC lifted its position in Parke Bancorp by 14.3% in the second quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock worth $106,000 after purchasing an additional 400 shares during the period. Russell Investments Group Ltd. increased its position in shares of Parke Bancorp by 66.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock valued at $46,000 after purchasing an additional 855 shares during the period. Legal & General Group Plc acquired a new position in shares of Parke Bancorp during the 2nd quarter valued at $31,000. BNP Paribas Financial Markets raised its stake in shares of Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after buying an additional 999 shares in the last quarter. Finally, Militia Capital Partners LP lifted its holdings in shares of Parke Bancorp by 0.8% in the second quarter. Militia Capital Partners LP now owns 118,961 shares of the bank’s stock valued at $2,423,000 after buying an additional 1,000 shares during the period. 49.69% of the stock is currently owned by institutional investors and hedge funds.

Parke Bancorp Company Profile

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.