Parke Bancorp (NASDAQ:PKBK) CEO Vito Pantilione Acquires 1,000 Shares

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione bought 1,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was bought at an average price of $27.63 per share, with a total value of $27,630.00. Following the acquisition, the chief executive officer owned 236,129 shares in the company, valued at approximately $6,524,244.27. This trade represents a 0.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Parke Bancorp Trading Up 0.8%

PKBK traded up $0.21 during trading hours on Friday, reaching $27.35. 4,293 shares of the company’s stock traded hands, compared to its average volume of 84,659. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $24.85 and a 200 day moving average price of $22.71. The firm has a market capitalization of $317.20 million, a PE ratio of 8.65 and a beta of 0.51. Parke Bancorp, Inc. has a 52-week low of $16.94 and a 52-week high of $28.22.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.93 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 25.86% and a return on equity of 12.16%. The business had revenue of $22.74 million during the quarter.

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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, January 2nd. Parke Bancorp’s dividend payout ratio is currently 22.78%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Parke Bancorp

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of Parke Bancorp by 66.2% during the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after purchasing an additional 855 shares during the period. BNP Paribas Financial Markets lifted its holdings in Parke Bancorp by 44.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after purchasing an additional 999 shares during the last quarter. CWM LLC grew its holdings in Parke Bancorp by 251.5% in the 3rd quarter. CWM LLC now owns 3,367 shares of the bank’s stock valued at $73,000 after buying an additional 2,409 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Parke Bancorp in the fourth quarter valued at approximately $75,000. Finally, Daytona Street Capital LLC bought a new stake in shares of Parke Bancorp during the 4th quarter worth approximately $163,000. 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.