Parke Bancorp (NASDAQ:PKBK) Posts Earnings Results

Parke Bancorp (NASDAQ:PKBK) announced its quarterly earnings results on Thursday. The bank reported $0.93 earnings per share (EPS) for the quarter, Zacks reports. Parke Bancorp had a net margin of 23.95% and a return on equity of 11.07%.

Parke Bancorp Trading Up 0.3%

NASDAQ PKBK traded up $0.07 on Thursday, reaching $26.43. The company had a trading volume of 57,782 shares, compared to its average volume of 75,610. The firm has a market cap of $306.59 million, a price-to-earnings ratio of 9.31 and a beta of 0.51. Parke Bancorp has a fifty-two week low of $16.94 and a fifty-two week high of $26.98. The business has a 50 day moving average of $24.18 and a two-hundred day moving average of $22.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 1.19.

Parke Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.72 annualized dividend and a dividend yield of 2.7%. Parke Bancorp’s payout ratio is currently 25.35%.

Insider Activity

In other Parke Bancorp news, Director Elizabeth A. Milavsky sold 10,981 shares of the company’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $24.71, for a total value of $271,340.51. Following the sale, the director owned 35,278 shares in the company, valued at approximately $871,719.38. The trade was a 23.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel J. Dalton sold 7,500 shares of Parke Bancorp stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.12, for a total value of $188,400.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $251,200. This represents a 42.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Parke Bancorp

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Parke Bancorp by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 558,961 shares of the bank’s stock valued at $12,046,000 after buying an additional 4,624 shares during the period. Ategra Capital Management LLC raised its position in shares of Parke Bancorp by 1.8% in the 3rd quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank’s stock worth $9,489,000 after acquiring an additional 7,627 shares in the last quarter. Militia Capital Partners LP lifted its stake in shares of Parke Bancorp by 0.8% in the 2nd quarter. Militia Capital Partners LP now owns 118,961 shares of the bank’s stock valued at $2,423,000 after purchasing an additional 1,000 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Parke Bancorp by 2.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 113,193 shares of the bank’s stock valued at $2,439,000 after purchasing an additional 2,534 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Parke Bancorp by 228.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock valued at $1,991,000 after purchasing an additional 73,505 shares in the last quarter. Institutional investors own 49.69% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Parke Bancorp in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

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.