Daniel J. Dalton Sells 5,000 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Chairman Daniel J. Dalton sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $20.96, for a total value of $104,800.00. Following the completion of the sale, the chairman now directly owns 71,319 shares of the company’s stock, valued at $1,494,846.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Parke Bancorp Stock Down 1.4 %

Shares of NASDAQ:PKBK traded down $0.29 on Friday, reaching $20.74. The company had a trading volume of 14,391 shares, compared to its average volume of 22,829. Parke Bancorp, Inc. has a twelve month low of $15.24 and a twelve month high of $22.00. The stock has a 50-day moving average price of $20.57 and a 200 day moving average price of $18.19. The stock has a market capitalization of $248.47 million, a P/E ratio of 8.90 and a beta of 0.70. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.75.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.62 earnings per share for the quarter. Parke Bancorp had a return on equity of 9.81% and a net margin of 22.32%. The business had revenue of $15.62 million during the quarter.

Parke Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were given a dividend of $0.18 per share. The ex-dividend date was Friday, October 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.47%. Parke Bancorp’s dividend payout ratio is presently 30.90%.

Hedge Funds Weigh In On Parke Bancorp

Several large investors have recently made changes to their positions in PKBK. Fulton Bank N.A. lifted its position in shares of Parke Bancorp by 52.1% during the 2nd quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock worth $1,286,000 after purchasing an additional 25,314 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Parke Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock worth $8,309,000 after purchasing an additional 22,374 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its position in shares of Parke Bancorp by 3.9% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 371,714 shares of the bank’s stock worth $6,403,000 after purchasing an additional 14,032 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Parke Bancorp during the 1st quarter worth about $198,000. Finally, Squarepoint Ops LLC bought a new position in Parke Bancorp during the second quarter valued at about $186,000. Institutional investors and hedge funds own 49.69% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Monday.

About Parke Bancorp

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.