Parke Bancorp (NASDAQ:PKBK) CEO Acquires $42,718.00 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione purchased 1,300 shares of Parke Bancorp stock in a transaction that occurred on Thursday, October 29th. The shares were purchased at an average cost of $32.86 per share, with a total value of $42,718.00. Following the transaction, the chief executive officer directly owned 239,629 shares of the company’s stock, valued at $7,874,208.94. This represents a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Parke Bancorp Stock Down 1.1%

PKBK stock traded down $0.35 during midday trading on Friday, hitting $32.59. The company’s stock had a trading volume of 19,970 shares, compared to its average volume of 71,916. The company has a market cap of $383.32 million, a PE ratio of 8.23 and a beta of 0.51. Parke Bancorp, Inc. has a 12 month low of $21.10 and a 12 month high of $35.70. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $33.43 and its 200-day moving average is $31.06.

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

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors 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 (DPR) is 20.15%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Parke Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Parke Bancorp in the second quarter worth approximately $26,035,000. Dimensional Fund Advisors LP grew its stake in shares of Parke Bancorp by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock worth $17,018,000 after acquiring an additional 25,168 shares during the last quarter. Ategra Capital Management LLC acquired a new stake in Parke Bancorp in the 2nd quarter worth approximately $11,402,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Parke Bancorp by 83.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock valued at $7,471,000 after buying an additional 119,274 shares during the last quarter. Finally, Rhino Investment Partners Inc acquired a new stake in Parke Bancorp during the 1st quarter worth about $6,469,000. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Company Profile

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.