Parke Bancorp (NASDAQ:PKBK) CFO Jonathan Hill Sells 454 Shares of Company Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CFO Jonathan Hill sold 454 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $33.01, for a total value of $14,986.54. Following the completion of the transaction, the chief financial officer owned 30 shares of the company’s stock, valued at $990.30. This represents a 93.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Parke Bancorp Price Performance

NASDAQ PKBK opened at $32.48 on Friday. The business has a 50 day simple moving average of $33.33 and a 200 day simple moving average of $31.25. Parke Bancorp, Inc. has a 52-week low of $21.10 and a 52-week high of $35.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $382.00 million, a price-to-earnings ratio of 8.18 and a beta of 0.52.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Wednesday, October 21st. The bank reported $1.02 EPS for the quarter. Parke Bancorp had a net margin of 30.55% and a return on equity of 14.13%. The firm had revenue of $24.00 million for the quarter.

Parke Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. Parke Bancorp’s dividend payout ratio is currently 20.15%.

Hedge Funds Weigh In On Parke Bancorp

Large investors have recently bought and sold shares of the company. Ritholtz Wealth Management increased its stake in Parke Bancorp by 8.8% in the 3rd quarter. Ritholtz Wealth Management now owns 20,816 shares of the bank’s stock valued at $681,000 after buying an additional 1,678 shares during the last quarter. Lakewood Asset Management LLC lifted its position in Parke Bancorp by 5.3% during the 3rd quarter. Lakewood Asset Management LLC now owns 17,083 shares of the bank’s stock worth $559,000 after buying an additional 853 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Parke Bancorp during the 2nd quarter worth about $221,000. Pale Fire Capital SE acquired a new position in shares of Parke Bancorp during the 2nd quarter worth about $286,000. Finally, Susquehanna Fundamental Investments LLC boosted its stake in shares of Parke Bancorp by 53.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 12,543 shares of the bank’s stock worth $416,000 after buying an additional 4,348 shares during the last quarter. Institutional investors and hedge funds own 49.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PKBK shares. Wall Street Zen raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parke Bancorp in a report on Monday, September 21st. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, Parke Bancorp has an average rating of “Buy”.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community bank headquartered in Sewell, New Jersey. Through Parke Bank, the company provides banking and financial services to individuals, businesses and organizations in southern New Jersey and the greater Philadelphia area.

Parke Bank’s products and services include checking and savings accounts, certificates of deposit, online and mobile banking, residential mortgages, home equity financing, consumer loans and commercial lending.