Parke Bancorp, Inc. (NASDAQ:PKBK) Director Celestino R. Pennoni Sells 10,000 Shares

Parke Bancorp, Inc. (NASDAQ:PKBKGet Rating) Director Celestino R. Pennoni sold 10,000 shares of Parke Bancorp stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $24.35, for a total transaction of $243,500.00. Following the transaction, the director now directly owns 129,856 shares of the company’s stock, valued at $3,161,993.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of NASDAQ:PKBK opened at $24.68 on Friday. The firm’s 50-day moving average is $23.86 and its two-hundred day moving average is $23.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. Parke Bancorp, Inc. has a 1 year low of $18.50 and a 1 year high of $25.85. The firm has a market capitalization of $294.01 million, a PE ratio of 7.22 and a beta of 0.75.

Parke Bancorp (NASDAQ:PKBKGet Rating) last posted its quarterly earnings data on Tuesday, April 19th. The bank reported $0.83 earnings per share for the quarter. Parke Bancorp had a return on equity of 18.14% and a net margin of 46.13%. The business had revenue of $19.18 million during the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 20th. Investors of record on Wednesday, April 6th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Tuesday, April 5th. Parke Bancorp’s payout ratio is currently 18.71%.

Several institutional investors and hedge funds have recently bought and sold shares of PKBK. Cutler Capital Management LLC boosted its stake in Parke Bancorp by 3.2% in the 4th quarter. Cutler Capital Management LLC now owns 279,045 shares of the bank’s stock worth $5,938,000 after buying an additional 8,622 shares during the last quarter. Siena Capital Partners GP LLC raised its holdings in shares of Parke Bancorp by 13.8% during the 1st quarter. Siena Capital Partners GP LLC now owns 120,326 shares of the bank’s stock valued at $2,841,000 after buying an additional 14,633 shares during the period. McDonald Partners LLC purchased a new stake in Parke Bancorp during the 1st quarter worth approximately $908,000. Guardian Wealth Management Inc. purchased a new stake in Parke Bancorp during the 4th quarter worth approximately $29,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Parke Bancorp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 270,831 shares of the bank’s stock valued at $5,763,000 after acquiring an additional 2,648 shares during the last quarter. 37.18% of the stock is currently owned by institutional investors and hedge funds.

Separately, assumed coverage on shares of Parke Bancorp in a research note on Thursday, March 31st. They set a “buy” rating on the stock.

About Parke Bancorp (Get Rating)

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.

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Insider Buying and Selling by Quarter for Parke Bancorp (NASDAQ:PKBK)

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