Parke Bancorp (NASDAQ:PKBK) Insider Nicholas Pantilione Sells 14,675 Shares

Parke Bancorp, Inc. (NASDAQ:PKBK) insider Nicholas Pantilione sold 14,675 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $28.29, for a total value of $415,155.75. Following the completion of the transaction, the insider owned 1,850 shares in the company, valued at $52,336.50. This represents a 88.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Parke Bancorp Stock Performance

Shares of PKBK opened at $28.50 on Friday. Parke Bancorp, Inc. has a 12-month low of $16.94 and a 12-month high of $29.50. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. The company has a market cap of $330.60 million, a PE ratio of 9.02 and a beta of 0.53. The stock has a 50-day moving average price of $26.40 and a 200-day moving average price of $23.50.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Thursday, January 22nd. The bank reported $0.93 earnings per share 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 for the quarter.

Parke Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a dividend of $0.18 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. Parke Bancorp’s dividend payout ratio (DPR) is 22.78%.

Hedge Funds Weigh In On Parke Bancorp

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in Parke Bancorp by 228.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock worth $1,991,000 after purchasing an additional 73,505 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Parke Bancorp by 3.4% in the first quarter. Empowered Funds LLC now owns 49,443 shares of the bank’s stock worth $932,000 after buying an additional 1,644 shares during the period. Jane Street Group LLC bought a new stake in shares of Parke Bancorp in the 1st quarter valued at about $229,000. Empirical Finance LLC boosted its holdings in Parke Bancorp by 58.3% during the 2nd quarter. Empirical Finance LLC now owns 35,407 shares of the bank’s stock valued at $721,000 after acquiring an additional 13,036 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Parke Bancorp by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 15,969 shares of the bank’s stock valued at $325,000 after acquiring an additional 1,051 shares during the period. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Wall Street Analysts Forecast Growth

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