Insider Buying: Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Purchases 500 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBKGet Rating) CEO Vito S. Pantilione acquired 500 shares of the stock in a transaction on Monday, January 23rd. The shares were bought at an average price of $20.75 per share, for a total transaction of $10,375.00. Following the purchase, the chief executive officer now owns 208,260 shares in the company, valued at $4,321,395. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Parke Bancorp Stock Performance

PKBK remained flat at $20.50 during trading on Wednesday. The company had a trading volume of 16,911 shares, compared to its average volume of 12,882. The firm’s 50 day moving average is $20.90 and its 200-day moving average is $21.52. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45. Parke Bancorp, Inc. has a 1-year low of $20.06 and a 1-year high of $25.85. The stock has a market capitalization of $244.42 million, a PE ratio of 5.96 and a beta of 0.75.

Parke Bancorp (NASDAQ:PKBKGet Rating) last issued its quarterly earnings data on Wednesday, January 18th. The bank reported $0.86 EPS for the quarter. Parke Bancorp had a net margin of 43.61% and a return on equity of 16.83%. The business had revenue of $20.72 million during the quarter.

Parke Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 18th. Investors of record on Wednesday, January 4th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, January 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.51%. Parke Bancorp’s payout ratio is 20.93%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Parke Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th.

Institutional Investors Weigh In On Parke Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Parke Bancorp by 38,091.7% in the first quarter. JPMorgan Chase & Co. now owns 4,583 shares of the bank’s stock worth $108,000 after buying an additional 4,571 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Parke Bancorp by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 34,189 shares of the bank’s stock valued at $808,000 after purchasing an additional 884 shares in the last quarter. American Century Companies Inc. raised its stake in Parke Bancorp by 27.1% during the first quarter. American Century Companies Inc. now owns 44,906 shares of the bank’s stock worth $1,060,000 after purchasing an additional 9,581 shares during the period. Citigroup Inc. acquired a new position in shares of Parke Bancorp in the first quarter valued at approximately $128,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Parke Bancorp by 5.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 284,378 shares of the bank’s stock worth $6,714,000 after buying an additional 13,547 shares during the last quarter. Hedge funds and other institutional investors own 42.11% of the company’s stock.

About Parke Bancorp

(Get Rating)

Parke Bancorp, Inc operates as a bank holding company for Parke Bank. Parke Bank is a service commercial bank, which provides personal and business financial services to individuals and small-sized businesses. Its commercial loan products include residential and commercial real estate construction loans, working capital loans and lines of credit, demand, term and time loans, equipment, inventory and accounts receivable financing, fixed rate second mortgages, and new and used auto loans as well as overdraft protection.

Further Reading

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

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