Insider Selling: Parke Bancorp (NASDAQ:PKBK) Director Sells 10,981 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Elizabeth Milavsky sold 10,981 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $24.71, for a total transaction of $271,340.51. Following the transaction, the director owned 35,278 shares in the company, valued at $871,719.38. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Parke Bancorp Trading Down 0.4%

Shares of Parke Bancorp stock traded down $0.10 during trading on Monday, hitting $24.71. The stock had a trading volume of 4,575 shares, compared to its average volume of 25,613. Parke Bancorp, Inc. has a 12 month low of $16.94 and a 12 month high of $25.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 1.19. The firm’s fifty day simple moving average is $22.91 and its 200-day simple moving average is $21.86. The stock has a market cap of $286.64 million, a PE ratio of 8.69 and a beta of 0.53.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.89 earnings per share for the quarter. The company had revenue of $21.01 million for the quarter. Parke Bancorp had a net margin of 23.95% and a return on equity of 11.07%.

Parke Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, January 2nd. Parke Bancorp’s dividend payout ratio is presently 25.35%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Parke Bancorp in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Institutional Trading of Parke Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Fourthstone LLC increased its holdings in shares of Parke Bancorp by 243.3% during the second quarter. Fourthstone LLC now owns 200,838 shares of the bank’s stock valued at $4,091,000 after acquiring an additional 142,334 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Parke Bancorp by 228.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock worth $1,991,000 after purchasing an additional 73,505 shares in the last quarter. Nuveen LLC purchased a new stake in Parke Bancorp during the 1st quarter worth approximately $571,000. Strs Ohio acquired a new position in Parke Bancorp during the 1st quarter valued at approximately $494,000. Finally, Citadel Advisors LLC acquired a new position in Parke Bancorp during the 3rd quarter valued at approximately $532,000. 49.69% of the stock is owned by hedge funds and other institutional investors.

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.