Insider Buying: Parke Bancorp (NASDAQ:PKBK) CEO Acquires 1,300 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione bought 1,300 shares of the stock in a transaction dated Wednesday, July 29th. The stock was bought at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the acquisition, the chief executive officer directly owned 237,829 shares of the company’s stock, valued at approximately $8,010,080.72. This represents a 0.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Parke Bancorp Price Performance

Shares of NASDAQ:PKBK traded down $0.13 during midday trading on Thursday, reaching $33.73. 20,727 shares of the company were exchanged, compared to its average volume of 84,542. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $32.29 and its two-hundred day moving average is $29.76. Parke Bancorp, Inc. has a one year low of $19.71 and a one year high of $34.50. The stock has a market cap of $395.65 million, a PE ratio of 8.78 and a beta of 0.48.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.03 earnings per share (EPS) for the quarter. The company had revenue of $23.89 million for the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 14.11%.

Parke Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, July 2nd. This is a positive change from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. Parke Bancorp’s dividend payout ratio (DPR) is 20.83%.

Institutional Investors Weigh In On Parke Bancorp

A number of hedge funds have recently bought and sold shares of PKBK. Russell Investments Group Ltd. increased its holdings in shares of Parke Bancorp by 66.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after buying an additional 855 shares during the last quarter. Byrne Asset Management LLC lifted its holdings in shares of Parke Bancorp by 14.3% in the 2nd quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock valued at $106,000 after acquiring an additional 400 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after acquiring an additional 999 shares during the last quarter. Daytona Street Capital LLC purchased a new position in Parke Bancorp in the fourth quarter worth about $163,000. Finally, Engineers Gate Manager LP purchased a new position in Parke Bancorp in the fourth quarter worth about $204,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus 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.